电话：010-85195300
E-mail：cassoa@cass.org.cn
地址：中国北京建国门内大街5号中国社会科学院1#楼
扫一扫关注微信
国家哲学社会科学文献中心版权所有
1997 Ad
Kathryn A. GreenFor 1997, U.S. corporations claiming a foreign tax credit earned $157.9 billion in foreign-source taxable income and paid $45.1 billion in income taxes to foreign governments. After limitations, these corporations reported $42.2 billion in foreign tax credits, an increase of $1.9 billion from 1996 [1]. Under the foreign tax credit provisions, these corporations reduced their U.S. tax liability 29.1 percent, from $144.8 billion (U.S. income tax before credits) to $102.6 billion. Other credits, including the U.S. possessions tax credit and the general business credit, further reduced their U.S. income tax liability to $95.8 billion.
Overall, U.S. corporations claiming a foreign tax credit reported "worldwide taxable income" (i.e., both U.S. and foreign-source income) of $410.1 billion. Approximately 38.5 percent of the "worldwide taxable income" was derived from foreign sources. Worldwide income taxes reported for these corporations totaled $144.8 billion, with foreign sources accounting for 31.0 percent of the total.
As in recent years, most foreign-source income was earned by U.S. corporations in manufacturing. Manufacturers accounted for 65.1 percent of the total foreign-source taxable income and 71.9 percent of both the total current-year foreign taxes paid, accrued, or deemed paid, and the total foreign tax credit claimed for 1997. However, the 1990's continued to shift from manufacturing toward corporations classified in the finance, insurance, and real estate industrial division (FIRE). This industrial division has rapidly increased its share of foreign-source taxable income and total foreign tax credit claimed. The share of the total foreign tax credit claimed by finance, insurance, and real estate corporations has more than doubled from 6.6 percent for 1990 to 15.8 percent for 1997.
As in prior years, the United Kingdom, Canada, Japan, Germany, and the Netherlands were the leading sources of foreign income for U.S. corporations claiming the foreign tax credit. With $25.2 billion of the $157.9 billion (or 15.9 percent) in foreign-source taxable income, the United Kingdom provided the largest amount of income. Overall, the 15 nations of the European Union combined for 37.8 percent of foreign-source taxable income, 22.5 percent of current-year taxes paid or accrued, and 48.3 percent of the current-year tax deemed paid.
Background
Since the Income Tax Law of 1913, U.S. taxpayers have been taxed on their worldwide incomes. For U.S. corporations with multinational interests, income earned abroad may be taxed by the jurisdiction where the income is earned and also by the U.S. Government. This results in double taxation of the foreign income. The U.S. has adopted a tax credit method to alleviate this consequence. Under the tax credit method, the U.S. taxes the worldwide income but allows a credit against the U.S. tax liability for the income taxes paid to foreign: countries.
The U.S. was the first 'country to provide a tax credit for income taxes paid to foreign countries. From 1913 through 1917, income and profit taxes paid to foreign countries or U.S. possessions were included in general deductions from gross worldwide income. The Revenue Act of 1918 introduced the foreign tax credit. This provision allowed taxpayers an unlimited credit against U.S. income taxes for any taxes paid to or accrued in a foreign country. In cases where the foreign tax rate exceeded the U.S. tax rate, some U.S. tax on domestic earned income was offset by the credit for taxes paid to a foreign jurisdiction. This loss of revenue from U.S. tax on domestic income led to the development of a foreign tax credit limitation.
The Revenue Act of 1921 introduced the "overall" limitation. This limitation restricts the foreign tax credit to the lesser of 1) the product of the U.S. income tax before credits multiplied by the ratio of foreign-source taxable income to worldwide taxable income, or 2) the actual foreign taxes paid. For various periods in U.S. tax history, this limitation has been a fundamental principal of the foreign tax credit provisions.
While the "overall" limitation restricted the aggregate tax credit, corporations could arrange their business activities in order to maximize the credit of taxes paid in highly-taxed foreign jurisdictions by moving U.S. income, such as investment income, to a foreign jurisdiction with little or no income tax. To prevent this averaging of income from highly taxed foreign jurisdictions with income from low or nontaxed foreign jurisdictions, Congress enacted a "per country" limitation. Under the per country limitation, the limitation on creditable foreign income taxes is computed separately for each country. The per country limitation was operational in various forms from 1932 until 1976. Historically, corporations were required to use: (1) the overall limitation (1921-1932); (2) the lesser of the per country limitation or overall limitation (1932-1954); (3) the per country limitation (1954-1961); or (4) an election of the overall or per-country limitation (1961-1976). The overall limitation remains in effect today.
Regardless of the limitation method required (per country or overall), prior to the enactment of the Revenue Act of 1962, corporations combined all types of foreign income for purposes of computing their foreign tax credit limitations. With the passage of the 1962 Act, corporations were required to compute a separate foreign tax credit limitation for non-business interest income. This legislation was directed toward U.S. corporations with foreign-source income taxed at a higher rate than the U.S. rate. The intent was to discourage these corporations from shifting non-business lower-taxed income overseas. These interest-bearing foreign investments could generate additional foreign income with very little tax, thereby, increasing the limitation on the foreign tax credit. By separating low-taxed non-business income from higher-taxed business income, U.S. corporations were limited in their ability to arrange foreign investments at the expense of U.S. tax revenue.
Subsequent legislation required additional separate foreign tax credit limitations with respect to certain types of foreign income, especially under the Tax Reform Act of 1986. The separation of income types continued to limit U.S. taxpayers' ability to cross credit. The current structure of the statutory categories requires separate treatment for different types of income and income from different industries.
For 1997, taxpayers computed a separate foreign tax credit limitation for each of the following statutory categories of foreign-source income (described in the Explanation of Selected Terms section):
* passive income,
* high withholding tax interest,
* financial services income,
* shipping income,
* income re-sourced by treaty,
* dividends from each "noncontrolled" foreign corporation as defined in Internal Revenue Code section 902,
* dividends from an Interest-Charge Domestic International Sales Corporation (IC-DISC's) or former DISC,
* certain distributions from a Foreign Sales Corporation (FSC) or former FSC,
* taxable income attributable to foreign trade income [2],
* income from sanctioned countries per Internal Revenue Code section 901 (j) [3], and
* all other income from outside the United States (commonly referred to as general limitation income or overall basket).
The foreign tax credit claimed is the sum of credits allowed in each separate category. In certain instances, the total foreign tax credit claimed was reduced for participation in or for cooperation with international boycotts [4].
The treatment of excess or "unused" credits has also varied as the foreign tax credit provisions have developed. From 1921 through 1931, the amount of income and profits taxes paid to foreign countries in excess of that deducted as a tax credit was included in deductions against the gross income. With the Internal Revenue Code of 1939, the foreign taxes in excess of those deducted as a tax credit were instead credited against the excess profits tax. Congress introduced a carryover of excess or "unused" foreign tax credits in the Technical Amendments Act of 1958. These carryover provisions superceded the treatment of excess credits as defined in the Internal Revenue Code of 1939. They directed that any excess taxes that could not be credited because of the current-year limitation could be carried back 2 years (necessitating an amended return) or carried forward 5 years, subject always to the current-year foreign tax credit limitation. In other words, the total foreign taxes under each separate limitation for any given year includes current-year foreign taxes, plus taxes that were carried forward from prior years or, in the case of an amended return, any taxes that were carried back from future years
The foreign tax credit is elective. If the taxpayer elects to take the credit, no deduction for foreign taxes paid is available. In most circumstances, a taxpayer will elect to take the credit, which offsets the U.S. taxes dollar for dollar. Comparatively, the deduction may offset U.S. taxes by only 35 cents for every dollar deducted if the corporation's tax rate were 35.0 percent [5]. To claim a foreign tax credit, a U.S. corporation must have foreign-source taxable income, pay foreign income tax on the foreign income, and have a U.S. income tax liability.
Certain types of foreign taxes or levies are not creditable under U.S. regulations. Common types of non-creditable taxes include soak-up taxes, levies that yield specific economic benefit, levies to certain foreign governments deemed ineligible for the credit, and taxes generated by tax-motivated stock acquisitions. (See Explanation of Selected Terms for definitions.) These taxes can be deducted in calculating the worldwide taxable income, even when the foreign tax credit is elected for foreign income taxes.
Foreign Tax Credit, Tax Year 1993 Through Tax Year 1997
For the 5-year period, 1993-1997, the number of U.S. corporations that elected to credit foreign taxes against their U.S. tax liabilities varied considerably [6]. However, as shown in Figure A, the total worldwide taxable income, U.S. income tax before credits, foreign-source taxable income, current-year foreign taxes, and foreign tax credit claimed by these corporations have grown steadily. This growth is most apparent when comparing the income and taxes for 1993 and 1997. For 1993, some 6,322 corporations reported $228.7 billion in worldwide taxable income (column 2), computed an $81.9-billion U.S. tax liability, and credited nearly $22.9 billion under the foreign tax credit provisions. The number of corporations for 1997 increased less than 4 percent to 6,569. Yet the income subject to U.S. tax, U.S. tax liability, and foreign tax credit amounts each increased by more than 75.0 percent.
Because these U.S. corporations have maintained steady growth both in foreign and domestic source income over this 5-year period, the effect of the foreign tax credit provisions has remained relatively constant. Worldwide income for U.S. corporations increased 79.3 percent from 1993 to 1997. Domestic source income increased 88.2 percent during this period. The foreign-source taxable income as a percentage of income subject to U.S. tax (column 8) remained in the 38-41 percent range, with foreign-source taxable income increasing 66.8 percent overall. The percent of creditable taxes to the U.S. tax liability remained relatively constant during this period. Using the foreign tax credit provisions, U.S. corporations reduced their U.S. tax liabilities annually by nearly 30.0 percent.
Separate Limitation Categories, Tax Year 1997
For 1997, U.S. corporations claiming a foreign tax credit reported $410.1 billion in worldwide taxable income. Over 38.5 percent, almost $158.0 billion, was generated from foreign sources. Much of this foreign income was subject to foreign taxation. Over $45.0 billion of income taxes were paid, accrued, or deemed paid to foreign countries. Under the foreign tax credit provisions, U.S. corporations credited 93.7 percent ($42.2 billion) of their current-year foreign taxes and were able to reduce their U.S. tax liabilities of $144.8 billion by 29.1 percent.
U.S. corporations are required to compute a separate foreign tax credit for each of several statutory categories of income. As Figure B shows, over 70.0 percent of all foreign-sourced taxable income in 1997 was classified as general limitation income. Accordingly, $35.5 billion, or nearly 80.0 percent, of the total current-year foreign taxes were paid on general limitation income. The second largest statutory group, financial service income, accounted for 20 percent of the foreign-sourced taxable income. About 15 percent ($6.9 billion) of the current-year foreign taxes were paid on financial services income.
Current-year foreign taxes as a percentage of foreign-source taxable income, reported in column (3), vary according to the statutory group [7]. General limitation income has the largest percentage of current-year foreign taxes with respect to foreign-source taxable income at 31.4 percent. Shipping income and passive income, two statutory groups that isolate low-tax income, are significantly lower. For 1997, the current-year foreign taxes as a percentage of foreign-source taxable income for these categories were 5.5 percent and 13.7 percent, respectively.
U.S. corporations determine a limitation for each statutory group based on the ratio of foreign income attributable to each income category to their worldwide incomes. For 1997, U.S. corporations were able to credit all of the current-year foreign taxes paid in only one statutory group, shipping income. In addition, 74.4 percent of the carryover in this statutory group was credited. In contrast, U.S. corporations credited 92.9 percent, or over $32.9 billion, of their $35.5 billion current-year foreign taxes paid on general limitation income. Only 85.3 percent of the current year foreign taxes paid on high withholding tax interest income was credited.
Industry Composition
Similar to recent years, manufacturing corporations continued to account for the majority of foreign-source taxable income, current-year taxes, and foreign tax credits (Figure C). U.S. manufacturers were responsible for 65.1 percent of the total $157.9 billion in foreign-source taxable income and nearly 71.9 percent of the total $45.1 billion in current-year foreign taxes. As a result, U.S. manufacturers were able to claim $30.3 billion in foreign tax credits. Figure D shows the foreign tax credit claimed by specific industry groups as a percentage of the total foreign tax credit reported for selected years in the 1990's; manufacturing was the leader in 1997 with 71.8 percent. Within manufacturing, the most significant of the specific industries in terms of foreign-source taxable income, current-year foreign taxes, and foreign tax credits, continued to be producers of petroleum (including those integrated with extraction) and coal products. This minor industry accounted for 16 percent of the total foreign tax credit claimed.
Finance, insurance, and real estate (FIRE) accounts for the second largest source of total foreign-source taxable income (20.2 percent) and generated 14.6 percent of total current-year foreign taxes. Figure D shows that FIRE was the fastest growing industry in terms of foreign tax credits claimed during the 1990's, as its share of the total foreign tax credit increased from 6.6 percent in 1990 to 15.8 percent in 1997.
Using the foreign tax credit as a measurement of industry activity actually understates the growing importance of finance, insurance, and real estate corporations to U.S. businesses, since income in those industries is usually taxed at a much lower rate than manufacturing income and, thus, would generate lower values of creditable foreign taxes. Foreign-source taxable income is a better indication of the relative importance of an industry to U.S. businesses. Since 1990, it has increased 125.8 percent for corporations in finance, insurance, and real estate, compared to an increase of only 47.5 percent for all other industries.
While finance, insurance, and real estate companies became more prominent from 1990 to 1997, it is notable that manufacturing corporations saw an equally steady decline during this period. At the beginning of the decade, manufacturing accounted for 83.1 percent of the total foreign tax credit, but, by 1997, their share had decreased to 71.8 percent. Likewise, manufacturing's share of total foreign-source income declined from 73.9 percent in 1990 to 65.1 percent in 1997.
Oil and Gas Extraction Income
Oil and gas extraction income, deductions, and taxes are reported separately from all other foreign-source income by U.S. corporations claiming a foreign tax credit related to that income. Section 907 of the Internal Revenue Code details how separate rules related to oil and gas extraction income affect the amount of foreign taxes available for corporations to credit. These provisions disallow certain foreign taxes and require another limitation calculation specifically for foreign oil and gas extraction income (FOGEI). Foreign taxes are excluded from the foreign tax credit calculation if they were paid, accrued, or deemed paid at a rate in excess of the applicable U.S. tax rate. Taxes can also be excluded if they were not, in effect, income taxes, but rather royalty payments. Under the foreign tax credit provisions, only income taxes, as viewed through U.S. tax principles, are creditable. This excludes voluntary payments and payments for specific rights (such as the right to extract a natural resource) or services.
Figure E shows gross income from foreign oil and gas extraction by both selected industry groups and selected countries for 1997. Most FOGEI was reported by U.S. corporations classified as manufacturers of petroleum (including integrated) and coal products. For 1997, the oil and gas extraction industry accounted for 9.7 percent of the total oil and gas extraction-related gross income reported. Figure E also lists the countries generating the greatest amounts of gross income associated with foreign oil and gas extraction for 1997. For the fourth year in a row, corporations reported the most gross income from the United Kingdom and Indonesia. Eight countries, the United Kingdom, Indonesia, Norway, Australia, the Netherlands, Malaysia, Canada, and Nigeria, together accounted for 59.7 percent of all gross income from foreign oil and gas extraction activities.
Geographic Focus
For 1997, European countries accounted for a considerable portion of the foreign-source taxable income and current-year taxes (Figures F, G, H, I, and Table 3) reported by U.S. corporations claiming a foreign tax credit. Europe was the source of $66.7 billion (42.2 percent) in taxable income and $20.0 billion (44.4 percent) of the current-year taxes. Specifically, more than one-third of the foreign-sourced taxable income and current-year taxes were reported by U.S. corporations with operations in the European Union (E,U.), Collectively, the E.U. accounted for nearly twice as much foreign-sourced taxable income as the next largest region, Asia.
[FIGURES F & H OMITTED]
Further analysis yields that a small number of countries account for a significant share of foreign-source taxable income as presented in Figure F. Consistently, for the past 5 years, the United Kingdom, Canada, Japan, the Netherlands, and Germany have accounted for approximately 42.2 percent of the total foreign-source taxable income. In 1997, these five countries accounted for over $70.2 billion of the nearly $158.0 billion foreign-source taxable income (44.5 percent). The United Kingdom and Canada combined account for over one-fourth of the foreign-source income at $25.2 billion (16.0 percent) and nearly $16.0 billion (10.0 percent), respectively.
The industry composition of these five countries is presented in Figure G. The largest portion of foreign-source taxable income reported in these countries was from manufacturers. U.S. manufacturers in Canada, the Netherlands, and Germany each accounted for more than 70.5 percent of the foreign-source taxable income reported for those countries. Petroleum and coal product manufacturers with operations in the Netherlands and the United Kingdom were the largest single source of the manufacturing income for these countries, accounting for 27.9 percent and 30.9 percent of the aggregate manufacturing income, respectively. Similarly, 69.2 percent of the nearly $12.0-billion Japan-source taxable income was from manufacturers ($8.3 billion). However, the most significant sources of income for U.S. manufacturers operating in Japan were from office, computing, and accounting equipment operations ($2.2 billion) and electrical and electronic equipment operations ($1.9 billion).
Four of the five largest (in terms of taxable income) countries reported that the majority of non-manufacturing foreign-source taxable income (less loss) was from finance, insurance, and real estate (FIRE) corporations--the United Kingdom, Canada, Japan, and Germany [8]. More than one-fourth of the foreign-source taxable income within this industry grouping was from corporations with operations in the United Kingdom. Half of the $8.4 billion U.K.-sourced taxable income for this industry group was from banking. In fact, nearly one-third of all foreign-source taxable income from banking was from the United Kingdom. FIRE corporations with operations in Canada and Japan reported the majority of their foreign-source taxable incomes from insurance operations, 83.5 percent and 68.3 percent, respectively. Nearly one-fourth of all foreign-source taxable income from insurance operations was from Canada.
Entity Focus
U.S. corporations may establish a worldwide presence via several types of entities. For example, the U.S. corporation may invest in an existing corporation, form a wholly-owned subsidiary corporation or create a partnership under the laws of a foreign jurisdiction, form a joint venture with a foreign entity, or operate through an unincorporated branch. For 1997, more than one-third ($56.3 billion) of the foreign-sourced taxable income ($158.0 billion) from U.S. corporations claiming a foreign tax credit is from foreign branch operations. Due to reporting limitations on Form 1118, Foreign Tax Credit--Corporations, the remaining two-thirds cannot be classified by entity type.
Foreign-Source Gross Income and Taxes (Excluding Foreign Branch Income)
The composition of current-year taxes and foreign-sourced gross income, excluding foreign branch income, by country or area is presented in Figure H. By definition, current-year taxes consist of two parts: (1) taxes paid or accrued and (2) taxes deemed paid [9]. For 1997, current-year taxes totaled $45.1 billion, with nearly two-thirds ($29.0 billion) from taxes deemed paid. The largest share of total tax and the largest share of taxes deemed paid were collected by countries in the European Union (E.U.). The E.U. reported $17.6 billion of the $45.1 billion in foreign taxes paid, accrued, or deemed paid. Nearly 80.0 percent of the E.U. taxes ($14.0 billion) was tax deemed paid. In fact, almost half (48.3 percent) of the foreign taxes deemed paid by all U.S. corporations claiming a foreign tax credit were paid to countries in the E.U. The second highest amount of foreign taxes paid, accrued, or deemed paid ($10.2 billion) was paid to Asian countries. The Asian taxes were distributed evenly between taxes paid or accrued and taxes deemed paid. The $5.1 billion Asian taxes paid or accrued represented almost one-third of the $16.0 billion reported by all U.S. corporations claiming a foreign tax credit.
U.S. corporations reported nearly $360.0 billion in gross foreign-sourced income. Three-fourths of the gross income were generated by entities other than foreign branches. Of the more than $271.2 billion of foreign-sourced gross income (excluding foreign branch income), $97.5 billion were dividend income and related gross-up. Interest income accounted for nearly one-fourth, or $61.5 billion. Rents, royalties, and license fees generated $48.6 million, or 17.9 percent. Income related to service accounted for only 11.6 percent, with a remaining 11.9 percent undefined.
One-third of the gross foreign-sourced income (excluding foreign branch income), $90.1 billion, was generated in the European Union (E.U.). The largest share of this E.U.-sourced gross income, 47.5 percent, was from dividends and related gross-up. In fact, U.S. corporations received 42.0 percent of their dividend income from countries in the E.U., $28.8 billion of $68.4 billion. Interest income generated in the E.U. totaled nearly $23.0 billion, or one-fourth of the total E.U.-sourced gross income (excluding foreign branch income). Rents, royalties, and license fees accounted for nearly 22.0 percent of the E.U.-sourced gross income. Both E.U.-sourced interest income and E.U.-sourced rental income accounted for a significant share of the total foreign-sourced income reported by U.S. corporations claiming a foreign tax credit. Over 37.0 percent of the $61.5 billion total interest from foreign sources was generated in E.U. countries. Similarly, 40.1 percent of the total rental, royalty, and licensing fee income from foreign sources was generated in E.U. countries.
Asian-sourced gross income totaled $47.7 billion (excluding foreign branch income) and represented the second-largest income source by region. More than half of the Asian-sourced gross income was generated from two sources nearly equally: (1) rents, royalties, and license fees and (2) dividend income and related gross-up. Rents, royalties, and license fees generated $13.5 billion, 28.3 percent of the total foreign-sourced rental, royalty, and licensing income reported by U.S. corporations claiming a foreign tax credit. Asian-sourced dividend income and gross-up combined equaled $13.0 billion. Asian-sourced gross service income and interest income were similarly split, generating over $10.0 billion each. This region generated more than one-third of the total foreign-sourced service income reported by U.S. corporations claiming a foreign tax credit.
Foreign Branch Income
An unincorporated foreign branch is not a separate legal entity, but an extension of the domestic corporation. The foreign branch is subject to the tax laws of the country in which it operates. Taxable income of a foreign branch is determined separately, as if it were independent of the domestic corporation. Direct costs, such as cost of goods sold, are allocated against the branch income, and certain indirect expenses may be charged but are subject to the limitation of the foreign country' s regulations. Foreign branch gross income and expenses are reported separately on Form 1118, Schedule F, and included in the taxable income computations for the related basket.
From the U.S. tax perspective, foreign branch income represents foreign-source income earned directly by the domestic corporation. Foreign branch profits or losses are included directly in the taxable income of the domestic corporation and are not a separate taxable event for U.S. purposes. In contrast, the income from a foreign subsidiary, in general, is not included in the taxable income of the domestic corporation until the earnings are distributed to the U.S. parent corporation as a dividend. Branch income is taxed by the U.S. at the regular corporate rates. Therefore, a taxpayer will owe a residual U.S. tax on the income from a branch operating in a low-tax jurisdiction, whereas a branch operating in a high-tax foreign jurisdiction may create excess foreign tax credits.
Figure I presents the distribution of foreign branch income by selected country and industry for 1997. More than $35.1 billion (62.5 percent) of total foreign branch taxable income was connected with operations in ten countries, three of which were members of the E.U.: Australia, Bahamas, Brazil, Germany, Hong Kong, Japan, Mexico, Netherlands, Singapore, and the United Kingdom [10]. In fact, corporations with branch operations in the United Kingdom reported one-fourth, or $14.6 billion, of the total taxable branch income. Corporations classified in three industrial groups reported most of this income: banking (51.9 percent), manufacturing (29.5 percent), and insurance (10.4 percent).
U.S. banks reported more than half of all foreign branch taxable income. More than one-third of the U.S. bank-related taxable branch income was reported by operations in the United Kingdom, $9.7 billion. The U.K.-sourced taxable branch income from banking accounted for nearly two-thirds of all income from UK branch operations. In addition, U.S. banks with branch operations in the Bahamas, Brazil, Hong Kong, and Singapore contributed most of the total taxable branch income for these countries (88.8 percent, 93.5 percent, 82.8 percent, and 92.5 percent, respectively).
U.S. manufacturers accounted for $16.5 billion of the $56.3 billion foreign-sourced taxable branch income, nearly 30.0 percent. Over $9.5 billion was contributed by petroleum and coal-product manufacturers. Specifically, U.S. petroleum and coal-product manufacturers operating in the United Kingdom accounted for more than one-third of the branch income reported by all U.S. petroleum and coal-producers. U.S. petroleum and coal-product manufacturers operating in Australia and the Netherlands accounted for an additional 30 percent ($1.2 billion and $1.6 billion, respectively). U.S. petroleum and coal product manufacturers reported nearly 70.0 percent of the $2.4 billion Netherlands-sourced branch income and nearly 65.0 percent of the $1.9 billion Australia-sourced branch income. U.S. manufacturers in the non-petroleum industries reported 68.1 percent of the $1.3 billion German-sourced branch income and 60.3 percent of the $1.4 billion Mexican-sourced branch income.
U.S. insurers were the third highest group in terms of taxable branch income. Although U.S. insurers reported only 10.4 percent of the total taxable branch income, they reported more than three-fourths ($4.9 billion) of the $6.5 billion Japan-sourced branch income. In fact, U.S. insurers with operations in Japan accounted for more than 85.0 percent of the $5.8 billion foreign-sourced branch taxable income for this industry.
Summary
U.S. corporations claimed a record high foreign tax credit of $42.2 billion for 1997, as income and taxes increased across most industrial classifications and countries. European countries, specifically those in the European Union, continued as the largest single source of foreign-source taxable income and current-year taxes. One recent change, though, has been in the relative share of foreign income and taxes claimed by various industries. Corporations in the finance, insurance, and real estate industries have been rapidly increasing their shares of aggregate foreign income and foreign tax credits since 1990. U.S. corporations with foreign tax credits can no longer be primarily characterized as manufacturers involved in foreign oil and gas extraction or in the foreign production of goods. Banking and services companies are gradually becoming more significant abroad and reporting an increasing share of the foreign tax credit.
Data Sources and Limitations
The statistics in this article were derived from corporation income tax returns with a foreign tax credit that were included in the 1997 Statistics of Income corporate sample. To be included in the sample, returns had to have accounting periods ending between July 1997 and June 1998. These returns were selected prior to any audit examination. The 1997 corporation income tax return sample included approximately 94,000 returns chosen from over 4.7 million returns filed for this period.
The foreign tax credit is claimed under section 901 of the Internal Revenue Code. Corporations report the foreign income and taxes related to the credit on Form 1118, Computation of Foreign Tax Credit--Corporations, filed with their corporate tax returns. The statistics in this article are based on information reported on Forms 1118 and related corporate returns. Corporations with "alternative minimum tax" (AMT) must compute a separate "alternative minimum foreign tax credit." Data for the AMT foreign tax credit computation were excluded from these statistics, even if the corporation reported both the foreign tax credit and the AMT computation. If the corporation reported only the AMT computation, it had no regular tax and would not be included in the foreign tax credit study.
There are slight differences between the more complete foreign tax credit data in this article and those published in Statistics of Income--1997, Corporation Income Tax Returns [11]. These differences can be attributed to several factors, including but not limited to the following masons. Some of the corporate returns selected for the SOI sample, reporting a foreign tax credit, were received too late to be included in the regular corporate statistics (although estimates for these returns were included). Some corporations reported preliminary data on their originally filed returns because information on their overseas operations were not available at the time of filing. Amended returns were not used for these statistics. However, as necessary, additional information was obtained directly from the taxpayer.
Foreign income and taxes are understated in this article to the extent that they either were not or did not have to be reported on Form 1118. Because of the carryback provisions of the law, the 1997 foreign tax credit statistics presented in this article do not represent the final amounts credited that year. Such an amount would have to reflect, in addition to the results of subsequent audit, the carryback of some foreign taxes from 1998 and 1999. The foreign taxes available for the credit shown in this article include only those carried forward to 1997 from previous years. In addition to the carryback limitations, some corporations did not file Form 1118 because they had no U.S. income tax liability and, consequently, were unable to credit any foreign taxes paid or accrued for 1997. Other corporations may have elected to deduct their foreign taxes from their gross incomes instead of claiming the foreign tax credit.
Because the estimates are based on a sample, they are subject to sampling error. Coefficients of variation (CV's) are used to measure the magnitude of this sampling error. The CV is defined in the section on sampling variability in the SOI Sampling Methodology and Data Limitations appendix of this publication. Figure J presents CV's for foreign tax credits by selected industrial groups. The smaller the CV, the more reliable the estimate is judged to be.
The industry classification used in this article conforms to the former Enterprise Standard Industrial Classification (ESIC) authorized by the Office of Information and Regulatory Affairs in the Office of Management and Budget (OMB). The structure of this classification follows closely along the underlying Standard Industrial Classification (SIC) Manual, also authorized by OMB. For Tax Year 1998, the industry classification will conform to the new North American Industry Classification System (NAICS), which has recently been adopted.
Tables 1-3
Table 1, columns 2 through 15, presents statistics on assets, receipts, income, and taxes reported on Form 1120, Corporation Income Tax Return, for those corporations claiming a foreign tax credit. Columns 16 through 52 present statistics from Form 1118, Foreign Tax Credit--Corporations. Schedule references indicate the parts of Form 1118 from which the data were obtained. Columns 16 through 36 present statistics on foreign income (i.e., income from sources outside the United States) and deductions, reported primarily on Form 1118, Schedule A, Income or Loss Before Adjustments.
Although the amounts of oil and gas income and deductions (columns 23 and 36, respectively) are included in the summary columns (i.e., columns 16 through 22 and 26 through 35), these amounts are also reported separately (on Form 1118, Schedule I, Reduction of Oil and Gas Extraction Taxes) because oil and gas extraction income is subject to special rules under Internal Revenue Code section 907, which effectively requires a separate limitation calculation for taxes related to oil and gas extraction income. This may result in a reduction of foreign taxes available for credit. Reductions in creditable oil and gas extraction income taxes are included with several other types of reductions in column 41 of Table 1 and column 27 of Table 2.
Internal Revenue Code section 863(b) income (income partly within and partly without the United States) and foreign branch income are also included in the summary amounts reported in columns 16 through 22 of Table 1, and are also reported separately (on Form 1118, Schedule F, Gross Income and Definitely Allocable Deductions From Sources Outside the U.S. Under Section 863(b) and for Foreign Branches) in columns 24 and 25 of Table 1.
Total deductions not definitely allocable to specific types of income (column 32) are equal to the sum of Table 1, columns 33 through 35, relating to research and development, interest, and any other not definitely allocable expenses (any differences are due to taxpayer reporting variations). Total foreign-source gross income (Table 1, column 16) less total foreign deductions (Table 1, column 26) is equal to foreign-source taxable income before adjustments (Table 1, column 37).
Adjustments to foreign-source taxable income (reported in column 38 of Table 1) include the allocation of: (1) current-year foreign-source losses, (2) overall foreign losses, and (3) current-year U.S.-source losses, as well as the recapture of prior-year overall foreign losses and recharacterization of prior-year foreign-source losses. These adjustments (reported on Schedule J, Separate Limitation Loss Allocations and Other Adjustments Necessary To Determine Numerators of Limitation Fractions, Year-End Recharacterization Balances, and Overall Foreign Loss Account Balances) affect the numerator of the limitation fraction used to compute the foreign tax credit. The income after adjustments (the numerator of the limitation fraction) is reported in column 39 of Table 1. The limitation fraction, foreign-source taxable divided by total taxable income from all sources, is applied to the total U.S. tax against which the credit is allowed to determine any limitation on the foreign tax credit. Taxpayers are required to calculate this limitation for each statutory income category.
Statistics on foreign taxes are reported in columns 40 through 52 of Table 1. Data on foreign taxes paid, accrued, and deemed paid (through related foreign corporations or their subsidiaries) from Form 1118, Schedule B, Foreign Tax Credit--Corporation, are reported in columns 43 through 52 of Table 1. Total foreign taxes paid or accrued (Table 1, column 44) are the sum of columns 45 through 51 (any differences are due to taxpayer reporting variations). Table 1, column 42 shows carryovers of excess or "unused" taxes from prior years, which can be added to the 1996 pool of creditable foreign taxes. Total foreign taxes paid, accrued, and deemed paid, plus carryover, are then adjusted for certain items (e.g., reductions of foreign taxes related to oil and gas extraction income under Internal Revenue code section 907, reductions of foreign taxes related to income earned in sanctioned countries under Internal Revenue code section 9010), and other reductions of creditable taxes) in column 41. Thus, total foreign taxes available for credit (Table 1, column 40) are equal to total foreign taxes paid, accrued, and deemed paid (column 43), plus any carryover of prior-year excess or "unused" foreign taxes (column 42), less any reduction in foreign taxes (column 41).
Tables 2 and 3 are similar in column format to Table 1 except that they do not provide data from Form 1120--U.S. Corporation Income Tax Return. Table 2 presents data reported by industrial grouping and separate statutory limitation income category, while Table 3 presents data by selected geographic region and country.
Explanation of Selected Terms
Adjustments to taxable income.--This includes several types of adjustments reported on Schedule J of Form 1118, Computation of Foreign Tax Credit--Corporations. These adjustments include the allocation of current-year foreign losses, overall foreign losses, and current-year domestic-source losses. In addition, adjustments due to prior-year loss allocations are made including the recapture of foreign-source losses, and the recharacterization of foreign-source income. The net results of these adjustments are reported in column 38 of Table 1 and column 24 of Table 2.
Carryover of foreign taxes.--Under Internal Revenue Code section 904, U.S. persons are allowed a 2-year carryback and 5-year carryforward of "excess" or "unused" foreign taxes for purposes of computing the foreign tax credit for those years. Such taxes were included in the computation of the current-year foreign tax credit to the extent that they did not exceed the credit limitation for the current year. For 1997, "carryover" includes only those foreign taxes that have been carried forward from previous years. See column 42 of Table 1 and column 28 of Table 2.
Controlled Foreign Corporation.--Under Internal Revenue Code section 957, a foreign corporation is a"Controlled Foreign Corporation" if more than 50 percent of its outstanding voting stock, or more than 50 percent of the value of all its outstanding stock, is owned (directly, indirectly, or constructively) by "U.S. shareholders" on any day during the foreign corporation's tax year. A "U.S. shareholder," as defined in Internal Revenue Code section 951(b), is a U.S. person who owns 10 percent or more of the foreign corporation's total combined voting stock. Ownership attribution rules are provided in Internal Revenue Code section 958.
Current-year foreign taxes.--The current-year foreign taxes include foreign taxes paid, accrued, or deemed paid and are reported in column 43 of Table 1, column 29 of Table 2, and column 15 of Table 3. Current-year foreign taxes do not include any carryback or carryforward of foreign taxes from future or prior tax years.
European Union (E.U.).--The European Union (E.U.) is a union of fifteen independent states based on the former European Communities and founded to enhance political, economic, and social cooperation. Formerly known as European Community (E.C.) or European Economic Community (E.E.C.), the member states include Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom.
Financial services income.--This separate limitation category applies to income from a specific industry--financial services (such as banking). Financial services income includes all income (including "passive income") that is produced in the active conduct of a banking, insurance, financing, or similar business, and from certain types of insurance investments. Financial services income does not include high withholding tax interest, dividends from noncontrolled foreign corporations as defined in Internal Revenue Code section 902, or certain types of export financing interest. Congress required a separate limitation category for financial service corporations because of a concern that the income generated could be easily shifted to low-tax jurisdictions. This separate limitation category is included in Table 2.
Foreign oil and gas extraction income.--Generally, no foreign tax credit or deduction is allowed for foreign taxes paid or accrued in connection with the purchase or sale of oil or gas extracted in a foreign country if the taxpayer has no economic interest in the oil and gas and the purchase or sale price differs from the fair market value.
Foreign Sales Corporations (FSC).--A foreign sales corporation is a company incorporated abroad, created to promote U.S. exports, and usually controlled by a U.S. person (defined below). A portion of the FSC's "foreign trade income" is exempt from U.S. taxation. These statistics do not include FSC returns. However, FSC dividends reported by corporations claiming a foreign tax credit are included. Dividends and interest from a FSC compose a separate limitation category. In July 1999, the World Trade Organization deemed that the FSC provisions constituted an illegal export subsidy. Congress repealed the FSC provisions and introduced the Extraterritorial Income Exclusion in November 2000. Under this legislation, U.S. corporations may continue to operate FSCs until December 2001.
Foreign-source taxable income.--Foreign-source taxable income is equal to gross income (less loss) less deductions from sources outside the U.S.
Foreign trade income.--Foreign trade income is the foreign trading gross receipts earned by a Foreign Sales Corporation (FSC) from 1) the sale of export property, 2) leasing of export property for use outside the U.S., or 3) services in connection with the sale or leasing of export property. The related separate limitation category, taxable income attributable to foreign trade income, is unusual in the SOI study because of the defined scope of the SOI sample.
General limitation income.--This separate limitation category includes foreign income not included in any other separate limitation category.
Gross-up.--Because a dividend represents a distribution from after-tax earnings, the amount of income that a domestic corporation recognizes on receiving a dividend from a foreign corporation is net of all the foreign income taxes paid by that foreign corporation. U.S. corporations that satisfy ownership and other requirements may take an "indirect" foreign tax credit for taxes paid with respect to the distribution. Under Internal Revenue Code section 78, these taxes are "deemed paid" by the U.S. corporation under Internal Revenue Code sections 902 and 960(a). Therefore, the dividend income is grossed-up by the amount of the deemed taxes paid. This denies the U.S. corporation the double tax benefit of crediting the deemed foreign taxes and deducting the same taxes from the foreign-sourced taxable income. The gross-up requirement eliminates the implicit deduction.
High withholding tax interest.--This separate limitation category includes only interest income subject to a withholding tax, or other gross basis tax, at a rate of 5 percent or more. Like the passive income basket, the high withholding tax interest basket does not apply to interest received in the conduct of financing certain export activities.
Income re-sourced by treaty.--A few U.S. income tax treaties contain provisions which reclassify certain items of income from U.S.-source to foreign-source. This primarily happens when a tax treaty gives the foreign country the right to tax what would otherwise be U.S.-sourced income. If the corporation elects to apply the treaty, the income will be treated as foreign income. Certain dividends, gains, and income from a U.S.-owned foreign corporation may be included in this basket. A separate foreign tax credit limitation must be computed for each amount re-sourced from a treaty country.
Interest-Charge Domestic International Sales Corporation (IC-DISC).--IC-DISC's are certain small domestic corporations formed to export U.S. products. An IC-DISC can defer the tax liability of a portion of its income, but must ultimately pay the deferred tax plus interest. Under the DISC provisions, a U.S. manufacturer could set up a DISC (located in the U.S.) whose income is not taxed at the DISC level. Instead, the corporate shareholder is taxed directly on a portion of the DISC's income deemed distributed. The portion of the income not deemed distributed is not subject to any U.S. taxation until actually distributed. The U.S.'s foreign trading partners that are party to the General Agreement on Tariffs and Trade (GATT) maintained the DISC provisions constituted an illegal export trade subsidy because they allowed indefinite deferral of direct taxes on income from exports earned in the U.S. Essentially, this pre-1985 system of tax deferral for export income had been replaced by the exemption system of foreign sales corporations (FSC's). To elect IC-DISC status, at least 95 percent of the corporation's gross receipts must be "qualified export receipts," and at least 95 percent of its assets must be "qualified export assets." Distributions from an IC-DISC are a separate limitation category.
Non-controlled section 902 corporation.--A non-controlled foreign corporation, as defined in Internal Revenue Code section 902, is a foreign corporation in which the U.S. corporation owns at least l0 percent of the voting stock and the U.S. shareholders (i.e., those owning at least 10 percent of the voting stock), as a group, own 50 percent or less of the stock measured by voting power or value. Sometimes, these foreign corporations are referred to as "10/50 companies." Each non-controlled section 902 corporation is treated separately. Taxpayers are required to place dividends from each corporation into a separate basket to prevent averaging of high-taxed and low-taxed dividends from different noncontrolled section 902 corporations.
OPEC Countries.--The members of the Organization of Petroleum Exporting Countries (OPEC) for 1997 were Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.
Passive income.--This separate limitation category includes dividends, interest, rents, royalties, annuities, net capital gains, and commodity transactions. There are some important exceptions to these inclusions. Rents and royalties derived in an active trade or business from an unrelated person may not be considered passive. Also, high-taxed passive income is excluded from the passive income basket. Specifically, interest subject to a high witholding tax is placed in a separate basket. (See definition for high withholding tax interest.) In addition, income that by definition would have been classified as passive yet is subject to a foreign tax rate exceeding the highest applicable U.S. rate is removed from the passive basket and placed in the General Limitation or Overall basket.
Section 901(J) income.--Internal Revenue Code section 901(j) denies credit for taxes paid or accrued to certain foreign governments that the U.S. deems ineligible for the credit. Generally, these countries include the following: (1) countries not recognized by the U.S., (2) countries with which the U.S. has severed or does not conduct diplomatic relations, or (3) countries identified by the U.S. as providing support for terrorism. For 1997, countries subject to this restriction were Cuba, Iran, Iraq, Libya, North Korea, Sudan, and Syria. Although these taxes are not creditable, income and deductions from Internal Revenue Code section 901(j) countries are reported on Form 1118. A separate limitation credit is computed for informational purposes only and is not included in the foreign tax credit of the corporation.
Shipping income.--This statutory group applies to a specific industry--shipping. Shipping income includes the following: (1) all income from the use (or leasing for use) of a vessel or aircraft in foreign commerce, (2) income from services directly related to the use of a vessel or aircraft, (3) gains on the sale or exchange of a vessel or aircraft used in the performance of such services, and (4) income generated from other space and oceanic activities, Income that would be "foreign base company shipping income" for purposes of determining the income constructively received from Controlled Foreign Corporations, under Internal Revenue Code section 954(0, is also classified as shipping income.
Soak-up taxes.--A soak-up tax is a tax liability that depends upon the availability of a credit against the income tax liability to another country. In other words, a soak-up tax arises when a foreign tax would not be imposed on the taxpayer unless a credit is available for the tax under the laws of another jurisdiction.
Specific economic benefit.--A foreign levy is not considered a tax under U.S. regulations if the person or corporation subject to the levy receives, either directly or indirectly, a specific economic benefit from paying it.. Benefits include such items as property; services; fees and other payments; rights to use, acquire or extract resources; patents or other property owned or controlled by the foreign country; and reductions or discharge of contractual obligations. The U.S. regulations determine this levy to be payment for the specific economic benefit.
Specifically allocable income.--Internal Revenue Code section 863(b) provides special rules for determining taxable income from sources outside the U.S. with respect to gross income derived partly within and partly outside the U.S. The income apportioned to sources outside the U.S. under these special rules is commonly referred to as "Section 863(b) income" and is shown in column 25 of Table 1, and column 11 of Tables 2 and 3.
Tax deemed paid.--See definition for Gross-up.
Tax motivated stock acquisitions.--For dividends paid more than 30 days after August 5, 1997, the Taxpayer Relief Act of 1997 (TRA) 97) imposes a minimum holding period requirement with respect to claiming a credit for foreign taxes associated with foreign-source dividends. This limitation is designed to prevent the transfer of foreign tax credits from a taxpayer that cannot use the credit (such as a tax-exempt organization) to one who can, simply by transferring stock that generates foreign-source income and creditable foreign taxes.
U.S. Person.--A U.S. person is any citizen or resident of the United States, domestic partnership, corporation, association, company, or any estate or trust that is not considered "foreign." See Internal Revenue Code section 7701 for more information on the definition of a U.S. person.
Table 1.--U.S. Corporation Returns with a Foreign Tax Credit: Total
Assets, Income, Tax, and Credits, and Foreign Income and Tax Reported
on Form 1118, by Selected Industrial Group
[All figures are estimates based on samples--money amounts are in
thousands of dollars]
Number
Major and selected minor of Total Total
industrial group returns assets receipts
(1) (2) (3)
All industries 6,569 14,263,224,845 5,311,659,824
Agriculture, forestry,
and fishing 134 4,225,363 4,015,958
Mining 133 73,651,052 33,600,411
Metal mining 9 * 8,025,694 * 3,886,090
Coal mining 5 * 24,310,942 * 4,930,022
Oil and gas extraction 112 35,455,594 19,867,239
Nonmetallic minerals,
except fuels 8 * 5,858,822 * 4,917,061
Construction 183 19,960,287 22,946,190
General building
contractors 92 6,877,597 16,698,443
Heavy construction
contractors 39 11,941,741 4,004,597
Special trade
contractors 51 1,140,950 2,243,150
Manufacturing 1,763 3,955,074,054 2,794,697,025
Food and kindred
products 83 291,962,500 185,153,297
Tobacco manufactures 5 * 86,798,606 * 55,761,730
Textile mill products 60 7,891,742 7,563,645
Apparel and other
textile products 29 18,356,325 17,214,350
Lumber and wood
products 15 29,795,087 19,952,844
Furniture and fixtures 13 11,078,283 12,833,556
Paper and allied
products 31 104,694,794 66,384,124
Printing and publishing 97 148,457,010 79,539,328
Industrial plastics and
synthetic material 100 256,671,000 152,469,542
Drugs 53 208,241,502 126,313,930
Other chemicals 75 88,211,866 98,389,498
Petroleum (including
integrated) and coal
products 28 612,952,862 463,528,962
Rubber and miscellaneous
plastics products 71 27,275,689 33,603,207
Leather and leather
products 13 2,656,074 3,823,505
Stone, clay, and glass
products 28 24,757,696 20,679,811
Primary metal industries 42 69,343,470 59,872,820
Fabricated metal
products 192 69,544,707 60,810,423
Office, computing, and
accounting equipment 29 91,396,346 107,297,923
Other machinery, except
electrical 221 124,145,998 115,381,816
Electrical and
electronic equipment 327 675,225,281 371,444,877
Motor vehicles and
equipment 27 696,308,021 450,630,068
Transportation
equipment, except
motor vehicles 37 162,371,792 153,396,735
Instruments and related
products 99 120,402,007 106,077,496
Miscellaneous
manufacturing and
manufacturing not
allocable 87 26,535,396 26,573,536
Transportation and public
utilities 159 669,825,450 356,767,998
Transportation 88 151,504,474 115,205,317
Water transportation 36 6,235,570 5,723,969
All other
transportation 52 145,268,904 109,481,348
Communication 17 328,346,936 166,316,586
Electric, gas, and
sanitary services 54 189,974,039 75,246,095
Wholesale and retail trade 1,193 339,164,731 582,617,720
Wholesale trade 704 158,541,039 264,051,142
Groceries and related
products 15 2,511,606 6,918,148
Machinery, equipment,
and supplies 102 7,609,466 9,954,579
Miscellaneous
wholesale trade 586 148,419,967 247,178,416
Drugs, chemicals,
and allied
products 17 7,318,201 20,998,972
Petroleum and
petroleum products 7 * 18,350,985 * 35,005,556
Other miscellaneous
wholesale trade 562 122,750,782 191,173,888
Retail trade 489 180,623,692 318,566,578
Building materials,
garden supplies, and
mobile home dealers 4 * 11,300,236 * 23,909,565
General merchandise
stores 7 * 80,708,462 * 184,847,263
Food stores 82 * 4,572,431 * 9,537,382
Automotive dealers and
service station 16 * 1,515,526 * 2,631,003
Apparel and accessory
stores 20 19,613,945 30,385,961
Furniture and home
furnishing stores 7 * 1,362,791 * 2,239,681
Eating and drinking
places 79 39,667,742 27,574,867
All other retail
stores 273 21,882,559 37,440,857
Finance, insurance, and
real estate 1,676 8,898,152,618 1,287,984,403
Banking 92 3,554,188,953 296,696,941
Credit agencies other
than banks 27 839,806,816 74,942,170
Security, commodity
brokers, and services 113 1,338,399,719 120,257,770
Insurance 297 3,076,200,324 773,486,810
Insurance agents,
brokers, and service 18 35,243,542 10,595,245
Real estate 344 13,434,284 4,169,013
Holding and other
investment companies,
except bank holding
companies 784 40,878,979 7,836,454
Services 1,329 303,171,291 229,030,120
Hotels and other lodging
places 16 39,001,489 45,665,053
Personal services 10 * 4,911,672 * 4,700,078
Business services 603 147,695,418 106,268,489
Auto repair;
miscellaneous repair
services 18 * 10,122,309 12,907,492
Amusement and recreation
services 137 69,326,567 36,565,144
All other services 546 32,113,836 22,923,864
Dividends
Dividends received Includable
received from IC- income of
Major and selected minor from DISC's or Controlled
industrial group foreign former Foreign
corporations DISC's (1) Corporations
(4) (5) (6)
All industries 39,398,674 116,806 26,163,328
Agriculture, forestry,
and fishing * 38,435 -- * 2,373
Mining 585,646 -- 193,986
Metal mining * 95,211 -- * 7,629
Coal mining * 179,791 -- * 11,154
Oil and gas extraction 288,674 -- 171,981
Nonmetallic minerals,
except fuels * 21,969 -- * 3,222
Construction 26,858 -- * 15,711
General building
contractors * 6,561 -- * 8,086
Heavy construction
contractors * 5,379 -- * 7,625
Special trade
contractors * 14,919 -- --
Manufacturing 32,371,546 12,872 17,086,737
Food and kindred
products 3,912,886 * 166 1,701,491
Tobacco manufactures * 1,617,865 -- * 793,640
Textile mill products * 46,070 -- * 9,804
Apparel and other
textile products * 219,282 * 28 * 170,869
Lumber and wood
products * 50,566 -- * 19,421
Furniture and fixtures * 44,045 -- * 11,094
Paper and allied
products 895,122 -- 272,165
Printing and publishing 205,822 * 22 48,726
Industrial plastics and
synthetic material 1,970,080 * 5,260 1,120,520
Drugs 4,702,171 * 125 2,326,922
Other chemicals 1,163,186 * 767 744,798
Petroleum (including
integrated) and coal
products 5,931,883 -- 1,513,861
Rubber and miscellaneous
plastics products 403,240 -- 141,314
Leather and leather
products * 690 -- * 4,754
Stone, clay, and glass
products 135,573 -- * 19,930
Primary metal industries 425,569 -- 176,352
Fabricated metal
products 528,288 * 1,060 485,045
Office, computing, and
accounting equipment 3,545,730 -- 514,735
Other machinery, except
electrical 896,194 * 3,279 638,873
Electrical and
electronic equipment 1,792,838 * 802 2,861,445
Motor vehicles and
equipment 2,196,450 -- 2,182,373
Transportation
equipment, except
motor vehicles 541,000 -- * 294,876
Instruments and related
products 1,002,676 * 322 914,587
Miscellaneous
manufacturing and
manufacturing not
allocable 144,317 * 1,041 119,143
Transportation and public
utilities 1,100,518 -- 512,233
Transportation 88,844 -- 186,214
Water transportation * 4,495 -- * 47,977
All other
transportation 84,349 -- 138,236
Communication 557,380 -- 113,288
Electric, gas, and
sanitary services 454,293 -- 212,731
Wholesale and retail trade 780,761 -- 1,218,569
Wholesale trade 577,159 -- 647,203
Groceries and related
products * 7,192 -- * 232
Machinery, equipment,
and supplies 16,309 -- * 2,265
Miscellaneous
wholesale trade 553,658 -- 644,706
Drugs, chemicals,
and allied
products * 17,301 -- * 27,667
Petroleum and
petroleum products * 97,375 -- * 41,435
Other miscellaneous
wholesale trade 438,982 -- 575,604
Retail trade 203,602 -- 571,366
Building materials,
garden supplies, and
mobile home dealers * 11 -- * 898
General merchandise
stores * 19,749 -- * 18,354
Food stores * 6 -- --
Automotive dealers and
service station * 241 -- * 640
Apparel and accessory
stores * 47,725 -- * 147,514
Furniture and home
furnishing stores * 7,375 -- * 909
Eating and drinking
places * 113,712 -- * 363,486
All other retail
stores * 14,783 -- * 39,566
Finance, insurance, and
real estate 2,936,573 * 103,446 6,559,699
Banking 547,417 -- 3,043,939
Credit agencies other
than banks * 294,044 -- 634,432
Security, commodity
brokers, and services 362,864 * 413 707,388
Insurance 977,100 * 103,033 1,733,944
Insurance agents,
brokers, and service * 160,472 -- * 33,796
Real estate 3,714 -- * 22,179
Holding and other
investment companies,
except bank holding
companies 590,960 -- 384,021
Services 1,558,336 * 487 574,019
Hotels and other lodging
places * 215,472 -- * 35,920
Personal services * 24,079 -- * 42
Business services 1,120,714 * 487 431,851
Auto repair;
miscellaneous repair
services * 1,895 -- --
Amusement and recreation
services * 93,684 -- * 37,710
All other services 102,492 -- 68,495
Foreign
dividend
income
resulting Net income Income
Major and selected minor from (less subject to
industrial group foreign deficit) U.S. tax
taxes
deemed paid
(gross-up)
(7) (8) (9)
All industries 29,036,369 432,320,036 410,126,303
Agriculture, forestry,
and fishing * 21,531 472,180 443,557
Mining 279,596 5,500,935 4,928,538
Metal mining * 25,690 * 540,859 * 522,293
Coal mining * 1,529 * 503,162 * 500,781
Oil and gas extraction 244,643 3,955,653 3,421,372
Nonmetallic minerals,
except fuels * 7,734 * 501,260 * 484,091
Construction * 16,089 962,188 904,900
General building
contractors * 5,962 352,012 304,354
Heavy construction
contractors * 618 465,556 463,558
Special trade
contractors * 9,509 144,620 136,988
Manufacturing 23,039,903 231,445,833 217,289,154
Food and kindred
products 2,364,751 15,598,040 14,708,990
Tobacco manufactures * 1,020,998 * 9,926,981 * 9,531,635
Textile mill products * 25,154 464,611 453,571
Apparel and other
textile products * 254,852 2,196,571 2,190,311
Lumber and wood
products * 35,560 713,321 690,960
Furniture and fixtures * 22,043 1,021,869 1,011,446
Paper and allied
products 521,364 5,890,290 5,693,977
Printing and publishing 157,886 8,584,473 8,193,110
Industrial plastics and
synthetic material 1,352,440 14,586,044 13,318,832
Drugs 2,147,640 16,087,449 14,156,181
Other chemicals 1,084,617 10,618,235 10,379,679
Petroleum (including
integrated) and coal
products 3,395,084 35,010,444 34,251,734
Rubber and miscellaneous
plastics products 358,362 2,851,237 2,529,530
Leather and leather
products * 2,005 232,216 226,753
Stone, clay, and glass
products 84,332 2,141,532 1,925,772
Primary metal industries 310,314 4,259,678 3,876,006
Fabricated metal
products 690,332 6,871,096 6,567,563
Office, computing, and
accounting equipment 2,629,987 12,652,628 12,467,999
Other machinery, except
electrical 642,226 9,764,431 9,298,547
Electrical and
electronic equipment 2,336,637 37,074,391 32,801,097
Motor vehicles and
equipment 1,989,821 14,972,935 14,584,725
Transportation
equipment, except
motor vehicles 397,281 8,225,037 7,633,872
Instruments and related
products 1,067,292 9,042,921 8,310,400
Miscellaneous
manufacturing and
manufacturing not
allocable 148,926 2,659,399 2,486,462
Transportation and public
utilities 585,820 36,544,490 34,495,220
Transportation 88,808 7,085,504 5,322,916
Water transportation * 13,417 786,138 759,474
All other
transportation 75,391 6,299,367 4,563,441
Communication * 322,130 19,925,850 19,742,996
Electric, gas, and
sanitary services 174,882 9,533,136 9,429,308
Wholesale and retail trade 1,120,582 26,114,386 25,492,725
Wholesale trade 510,408 8,902,140 8,419,564
Groceries and related
products * 4,965 306,665 301,656
Machinery, equipment,
and supplies 4,744 582,467 536,848
Miscellaneous
wholesale trade 500,699 8,013,009 7,581,059
Drugs, chemicals,
and allied
products * 16,045 424,384 420,846
Petroleum and
petroleum products * 53,744 * 690,872 * 662,784
Other miscellaneous
wholesale trade 430,910 6,897,752 6,497,430
Retail trade 610,174 17,212,245 17,073,161
Building materials,
garden supplies, and
mobile home dealers -- * 1,701,875 * 1,701,413
General merchandise
stores * 7,300 * 7,794,366 * 7,743,161
Food stores -- * 282,722 * 282,432
Automotive dealers and
service station -- * 95,270 * 94,813
Apparel and accessory
stores * 113,315 2,325,346 2,306,402
Furniture and home
furnishing stores * 2,494 * 128,828 * 123,755
Eating and drinking
places * 461,926 3,128,952 3,089,959
All other retail
stores * 25,140 1,754,886 1,731,226
Finance, insurance, and
real estate 2,642,365 108,014,750 104,400,301
Banking 1,061,490 37,143,609 36,532,504
Credit agencies other
than banks 279,502 6,748,939 6,572,415
Security, commodity
brokers, and services 320,652 12,566,309 12,102,087
Insurance 444,345 45,361,782 43,037,841
Insurance agents,
brokers, and service * 44,255 1,741,357 1,929,969
Real estate 9,180 614,551 555,055
Holding and other
investment companies,
except bank holding
companies 482,941 3,838,203 3,670,430
Services 1,330,484 23,265,274 22,171,907
Hotels and other lodging
places * 145,306 2,192,769 2,090,256
Personal services * 13,274 * 447,064 * 444,511
Business services 1,039,091 14,596,239 13,808,738
Auto repair;
miscellaneous repair
services * 1,060 465,363 451,629
Amusement and recreation
services 79,900 4,156,090 3,950,605
All other services 51,853 1,407,749 1,426,169
U.S. income tax
before credits
Regular and Foreign
Major and selected minor alternative tax credit
industrial group Total minimum claimed
tax
(10) (11) (12)
All industries 144,779,411 144,767,666 42,222,743
Agriculture, forestry,
and fishing 154,284 154,284 34,696
Mining 1,756,666 1,756,187 906,954
Metal mining * 194,015 * 194,015 * 166,282
Coal mining * 175,178 * 175,178 * 94,155
Oil and gas extraction 1,215,068 1,214,590 637,691
Nonmetallic minerals,
except fuels * 172,404 * 172,404 * 8,826
Construction 319,265 316,158 44,412
General building
contractors 108,052 107,437 19,511
Heavy construction
contractors 163,416 161,619 14,083
Special trade
contractors 47,797 47,103 10,817
Manufacturing 76,694,471 76,689,694 30,299,210
Food and kindred
products 6,205,414 5,203,843 2,801,304
Tobacco manufactures * 3,335,972 * 3,335,972 * 1,302,880
Textile mill products 158,242 158,242 26,532
Apparel and other
textile products 767,940 767,940 266,279
Lumber and wood
products 244,822 251,376 40,342
Furniture and fixtures 353,841 353,841 22,761
Paper and allied
products 2,040,861 2,040,837 664,059
Printing and publishing 2,867,128 2,867,177 288,130
Industrial plastics and
synthetic material 4,687,617 4,687,617 1,647,569
Drugs 5,011,193 5,011,193 2,202,041
Other chemicals 3,646,416 3,646,416 1,321,594
Petroleum (including
integrated) and coal
products 12,006,024 12,006,279 6,748,403
Rubber and miscellaneous
plastics products 932,101 931,094 402,316
Leather and leather
products 78,695 78,695 11,724
Stone, clay, and glass
products 681,784 681,775 101,193
Primary metal industries 1,379,623 1,385,009 421,868
Fabricated metal
products 2,301,922 2,303 694,974
Office, computing, and
accounting equipment 4,489,836 4,489,836 3,150,955
Other machinery, except
electrical 3,262,793 3,261,089 854,506
Electrical and
electronic equipment 11,533,239 11,531,064 2,962,524
Motor vehicles and
equipment 5,149,323 5,148,598 2,380,504
Transportation
equipment, except
motor vehicles 2,675,815 2,671,974 517,204
Instruments and related
products 3,014,366 3,006,188 1,292,349
Miscellaneous
manufacturing and
manufacturing not
allocable 869,504 870,661 177,199
Transportation and public
utilities 12,348,590 12,353,898 802,644
Transportation 2,151,865 2,151,825 187,641
Water transportation 269,228 269,225 27,947
All other
transportation 1,882,637 1,882,600 159,694
Communication 6,885,103 6,890,788 451,925
Electric, gas, and
sanitary services 3,311,623 3,311,285 163,078
Wholesale and retail trade 8,987,993 8,985,680 1,383,247
Wholesale trade 3,013,051 3,012,306 686,471
Groceries and related
products 105,210 105,210 5,902
Machinery, equipment,
and supplies 188,020 188,015 9,877
Miscellaneous
wholesale trade 2,719,821 2,719,081 670,692
Drugs, chemicals,
and allied
products 184,551 184,580 88,289
Petroleum and
petroleum products * 231,768 * 231,768 * 98,437
Other miscellaneous
wholesale trade 2,303,502 2,302,734 483,966
Retail trade 5,974,941 5,973,374 696,776
Building materials,
garden supplies, and
mobile home dealers * 595,469 * 595,469 * 1,835
General merchandise
stores * 2,710,699 * 2,710,417 * 24,769
Food stores * 98,716 * 98,716 * 6,661
Automotive dealers and
service station * 32,953 * 32,953 * 129
Apparel and accessory
stores 808,322 808,322 79,494
Furniture and home
furnishing stores * 43,072 * 43,072 * 3,552
Eating and drinking
places 1,082,399 1,081,114 528,482
All other retail
stores 603,310 603,309 51,854
Finance, insurance, and
real estate 36,747,145 36,741,714 6,654,591
Banking 12,757,974 12,757,921 3,337,311
Credit agencies other
than banks 2,300,161 2,299,871 457,527
Security, commodity
brokers, and services 4,232,201 4,233,899 765,424
Insurance 15,296,430 15,290,783 1,552,984
Insurance agents,
brokers, and service 675,117 675,117 50,162
Real estate 201,049 201,049 9,759
Holding and other
investment companies,
except bank holding
companies 1,284,212 1,283,073 481,423
Services 7,770,999 7,770,053 2,096,990
Hotels and other lodging
places 733,791 733,644 177,348
Personal services * 155,379 * 155,379 * 14,819
Business services 4,850,636 4,850,144 1,601,492
Auto repair;
miscellaneous repair
services 157,784 157,702 1,322
Amusement and recreation
services 1,380,888 1,380,888 204,541
All other services 492,521 492,295 97,468
U.S. General U.S. Income
Major and selected minor possessions business tax after
industrial group tax credit credit credits (2)
(13) (14) (15)
All industries 146,440 3,548,009 95,787,290
Agriculture, forestry,
and fishing -- * 7,172 110,854
Mining -- 14,700 767,253
Metal mining -- -- * 27,060
Coal mining -- * 42 * 66,554
Oil and gas extraction -- 12,181 521,611
Nonmetallic minerals,
except fuels -- * 2,477 * 152,028
Construction -- * 8,435 266,016
General building
contractors -- * 8,221 79,917
Heavy construction
contractors -- * 213 149,120
Special trade
contractors -- * 1 36,979
Manufacturing 145,433 2,268,555 42,395,173
Food and kindred
products * 1,687 66,929 2,306,084
Tobacco manufactures -- * 26,481 * 1,996,103
Textile mill products -- * 6,205 125,048
Apparel and other
textile products * 17,291 * 2,524 481,634
Lumber and wood
products -- * 1,042 196,202
Furniture and fixtures -- * 4,411 326,058
Paper and allied
products * 2,154 47,050 1,316,682
Printing and publishing * 408 58,228 2,507,107
Industrial plastics and
synthetic material -- 90,037 2,743,397
Drugs * 117,158 275,325 2,357,662
Other chemicals * 1,611 82,607 2,239,988
Petroleum (including
integrated) and coal
products * 221 322,110 3,944,902
Rubber and miscellaneous
plastics products * 778 25,441 491,613
Leather and leather
products -- * 735 66,235
Stone, clay, and glass
products -- 25,302 544,744
Primary metal industries -- 7,492 886,419
Fabricated metal
products * 9 35,270 1,553,143
Office, computing, and
accounting equipment -- 90,825 1,242,658
Other machinery, except
electrical * 236 105,219 2,275,217
Electrical and
electronic equipment -- 597,501 7,923,717
Motor vehicles and
equipment -- 173,533 2,588,190
Transportation
equipment, except
motor vehicles -- 110,079 2,002,940
Instruments and related
products * 3,878 88,749 1,622,324
Miscellaneous
manufacturing and
manufacturing not
allocable -- 25,463 657,107
Transportation and public
utilities -- 245,999 10,865,454
Transportation -- 16,599 1,709,341
Water transportation -- * 733 236,227
All other
transportation -- 15,865 1,473,114
Communication -- 198,601 6,135,206
Electric, gas, and
sanitary services -- 30,799 3,020,908
Wholesale and retail trade -- 87,112 7,442,207
Wholesale trade -- 23,320 2,243,343
Groceries and related
products -- -- 97,621
Machinery, equipment,
and supplies -- * 809 172,522
Miscellaneous
wholesale trade -- 22,510 1,973,201
Drugs, chemicals,
and allied
products -- * 2,384 92,083
Petroleum and
petroleum products -- * 10,145 * 91,295
Other miscellaneous
wholesale trade -- 9,981 1,789,822
Retail trade -- 63,793 5,198,864
Building materials,
garden supplies, and
mobile home dealers -- * 451 * 593,183
General merchandise
stores -- * 15,643 * 2,670,287
Food stores -- * 1,335 * 90,720
Automotive dealers and
service station -- * 5,139 * 14,713
Apparel and accessory
stores -- * 1,101 727,727
Furniture and home
furnishing stores -- * 354 * 39,165
Eating and drinking
places -- 31,916 520,153
All other retail
stores -- * 7,853 542,914
Finance, insurance, and
real estate * 31 525,692 28,684,700
Banking -- 281,570 9,110,182
Credit agencies other
than banks -- * 30,680 1,789,485
Security, commodity
brokers, and services -- 31,849 3,365,430
Insurance * 31 169,659 12,835,673
Insurance agents,
brokers, and service -- * 6,648 616,521
Real estate -- * 626 178,398
Holding and other
investment companies,
except bank holding
companies -- * 4,660 789,010
Services * 976 390,344 5,255,633
Hotels and other lodging
places * 976 * 36,141 514,725
Personal services -- * 1,002 * 138,598
Business services -- 312,273 2,925,825
Auto repair;
miscellaneous repair
services -- * 676 155,786
Amusement and recreation
services -- * 24,706 1,142,071
All other services -- 15,547 378,629
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Foreign
dividend
income
resulting
Major and selected minor from
industrial group Total Dividends foreign
taxes
deemed
paid
(gross-up)
(16) (17) (18)
All industries 359,898,600 68,480,746 29,020,456
Agriculture, forestry,
and fishing 238,033 54,572 * 21,774
Mining 8,292,326 769,336 279,548
Metal mining * 1,842,738 * 102,841 * 25,690
Coal mining * 882,770 * 188,394 * 1,529
Oil and gas extraction 5,508,205 452,910 244,644
Nonmetallic minerals,
except fuels * 58,613 * 25,191 * 7,686
Construction 449,484 85,149 * 16,088
General building
contractors 217,131 * 57,205 * 5,962
Heavy construction
contractors 135,803 * 13,019 * 618
Special trade
contractors 96,550 * 14,925 * 9,509
Manufacturing 188,632,881 52,156,799 23,031,191
Food and kindred
products 13,689,338 5,725,052 2,363,100
Tobacco manufactures * 6,301,840 * 2,409,557 * 1,020,175
Textile mill products 134,199 * 55,839 * 25,154
Apparel and other
textile products 1,072,953 * 389,563 * 254,620
Lumber and wood
products 216,099 * 68,009 * 35,533
Furniture and fixtures 183,348 * 54,589 * 22,043
Paper and allied
products 3,343,913 1,302,738 521,416
Printing and publishing 4,916,174 257,955 158,002
Industrial plastics and
synthetic material 11,448,415 3,568,707 1,350,852
Drugs 16,247,439 6,852,075 2,147,856
Other chemicals 6,940,225 1,912,289 1,084,618
Petroleum (including
integrated) and coal
products 34,726,319 7,444,356 3,395,725
Rubber and miscellaneous
plastics products 1,914,920 547,831 358,333
Leather and leather
products 137,581 * 8,431 * 2,005
Stone, clay, and glass
products 702,088 221,602 84,332
Primary metal industries 2,389,004 635,810 310,309
Fabricated metal
products 3,448,092 1,019,606 694,109
Office, computing, and
accounting equipment 17,124,711 4,104,545 2,629,650
Other machinery, except
electrical 7,450,265 1,607,925 642,113
Electrical and
electronic equipment 27,323,241 5,844,142 2,336,386
Motor vehicles and
equipment 13,028,265 4,355,007 1,981,592
Transportation
equipment, except
motor vehicles 4,695,527 1,064,354 397,281
Instruments and related
products 9,976,595 2,423,756 1,067,059
Miscellaneous
manufacturing and
manufacturing not
allocable 1,222,332 283,062 148,927
Transportation and public
utilities 22,221,685 1,606,457 585,276
Transportation 13,704,989 271,889 88,808
Water transportation 320,690 * 52,469 * 13,417
All other
transportation 13,384,299 219,420 75,391
Communication 7,261,024 671,676 * 322,130
Electric, gas, and
sanitary services 1,255,671 662,892 174,338
Wholesale and retail trade 13,921,240 1,997,340 1,121,448
Wholesale trade 9,486,444 1,224,310 510,674
Groceries and related
products 61,489 * 7,424 * 4,965
Machinery, equipment,
and supplies 235,439 18,574 4,744
Miscellaneous
wholesale trade 9,189,516 1,198,312 500,965
Drugs, chemicals,
and allied
products 1,102,131 * 44,931 * 16,312
Petroleum and
petroleum products * 2,164,090 * 137,794 * 53,744
Other miscellaneous
wholesale trade 5,923,295 1,015,587 430,909
Retail trade 4,434,796 773,030 610,774
Building materials,
garden supplies, and
mobile home dealers * 10,428 * 11 --
General merchandise
stores * 452,001 * 38,139 * 7,300
Food stores * 77,019 * 23 --
Automotive dealers and
service station * 1,169 * 241 --
Apparel and accessory
stores 435,712 * 194,739 * 113,315
Furniture and home
furnishing stores * 27,945 * 8,284 * 2,494
Eating and drinking
places 2,839,366 * 477,165 * 462,507
All other retail
stores 591,155 54,428 * 25,159
Finance, insurance, and
real estate 102,621,003 9,539,627 2,636,478
Banking 52,894,722 3,648,589 1,055,611
Credit agencies other
than banks 8,858,262 947,618 279,502
Security, commodity
brokers, and services 13,336,865 1,065,400 320,652
Insurance 24,599,962 2,685,225 444,350
Insurance agents,
brokers, and service 448,845 * 193,598 * 44,255
Real estate 71,603 26,037 9,180
Holding and other
investment companies,
except bank holding
companies 2,410,746 973,161 482,929
Services 23,521,948 2,271,466 1,328,651
Hotels and other lodging
places 1,494,584 * 251,427 * 144,531
Personal services * 183,347 * 24,122 * 13,274
Business services 15,820,544 1,542,152 1,038,858
Auto repair;
miscellaneous repair
services 11,023 * 1,897 * 1,060
Amusement and recreation
services 4,131,202 280,102 79,132
All other services 1,881,249 171,767 51,796
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Rents,
Major and selected minor royalties, Service
industrial group Interest and income
license
fees
(19) (20) (21)
All industries 61,505,751 48,610,292 31,387,624
Agriculture, forestry,
and fishing * 19,744 * 14,007 --
Mining 221,170 310,547 3,073,644
Metal mining * 58,968 * 5,255 * 216,428
Coal mining * 58,789 * 32,068 * -5,239
Oil and gas extraction 92,837 271,660 2,861,612
Nonmetallic minerals,
except fuels * 10,576 * 1,564 * 843
Construction * 9,344 23,555 195,865
General building
contractors * 4,151 * 12,720 * 116,958
Heavy construction
contractors * 3,540 * 2,978 * 58,228
Special trade
contractors * 1,653 * 7,857 * 20,680
Manufacturing 8,366,129 33,953,415 3,733,558
Food and kindred
products 242,803 2,054,826 * 197,065
Tobacco manufactures * 70,454 * 1,016,244 * 7,054
Textile mill products * 3,535 * 17,548 * 594
Apparel and other
textile products * 7,410 320,759 * 11,058
Lumber and wood
products * 38,249 * 11,653 * 150
Furniture and fixtures * 8,896 15,133 * 9,974
Paper and allied
products 73,976 533,801 * 57,331
Printing and publishing 37,208 2,421,093 54,105
Industrial plastics and
synthetic material 414,493 1,773,306 354,457
Drugs 253,898 2,784,874 * 92,065
Other chemicals 116,757 1,717,717 33,956
Petroleum (including
integrated) and coal
products 3,661,334 687,722 * 135,735
Rubber and miscellaneous
plastics products 51,422 439,837 * 1,406
Leather and leather
products * 4,918 58,924 * 12,587
Stone, clay, and glass
products 30,230 147,743 * 44,539
Primary metal industries 114,964 151,540 * 19,440
Fabricated metal
products 154,931 337,368 63,442
Office, computing, and
accounting equipment 165,280 7,189,193 * 304,791
Other machinery, except
electrical 376,011 705,574 141,730
Electrical and
electronic equipment 1,354,714 5,139,642 555,468
Motor vehicles and
equipment 453,655 2,215,662 * 540,803
Transportation
equipment, except
motor vehicles 471,914 651,303 747,740
Instruments and related
products 243,554 3,165,308 326,712
Miscellaneous
manufacturing and
manufacturing not
allocable 15,524 396,647 21,357
Transportation and public
utilities 320,490 426,902 9,220,380
Transportation 43,022 83,274 8,925,407
Water transportation * 549 * 31 * 219,255
All other
transportation 42,473 83,242 8,706,151
Communication * 192,035 * 287,698 * 196,704
Electric, gas, and
sanitary services 85,434 * 55,931 98,269
Wholesale and retail trade 2,054,128 1,450,456 414,872
Wholesale trade 1,848,267 424,144 148,570
Groceries and related
products * 1,437 * 1,795 * 2,319
Machinery, equipment,
and supplies 3,334 * 13,237 * 4,627
Miscellaneous
wholesale trade 1,843,497 409,112 141,623
Drugs, chemicals,
and allied
products * 5,516 * 3,907 * 18,212
Petroleum and
petroleum products * 1,468,833 * 10,665 * 709
Other miscellaneous
wholesale trade 369,147 394,539 122,703
Retail trade 208,860 1,026,312 266,303
Building materials,
garden supplies, and
mobile home dealers -- * 10,418 --
General merchandise
stores * 21,818 * 103,710 * 187,127
Food stores * 5,821 * 71,121 --
Automotive dealers and
service station * 591 * 91 * 47
Apparel and accessory
stores * 4,337 * 54,279 --
Furniture and home
furnishing stores * 195 * 11,367 --
Eating and drinking
places * 152,079 662,263 * 6,040
All other retail
stores 21,019 113,063 * 73,089
Finance, insurance, and
real estate 49,935,328 1,923,139 9,976,238
Banking 31,926,026 1,217,318 * 1,933,550
Credit agencies other
than banks 2,388,198 * 118,648 * 30,821
Security, commodity
brokers, and services 8,325,109 * 21,833 398,894
Insurance 6,866,178 510,999 7,236,052
Insurance agents,
brokers, and service * 15,483 -- * 187,313
Real estate 11,073 * 14,708 * 4,899
Holding and other
investment companies,
except bank holding
companies 403,262 * 39,633 * 184,710
Services 579,418 10,508,272 4,773,067
Hotels and other lodging
places 96,072 * 361,875 * 76,766
Personal services * 2,873 * 8,616 * 132,621
Business services 287,651 7,015,616 2,882,667
Auto repair;
miscellaneous repair
services * 861 * 5,613 * 917
Amusement and recreation
services * 188,204 2,830,579 * 575,038
All other services 3,757 285,974 1,105,059
Foreign income and taxes
reported on Form 1118
Gross
income
(less loss)
Oil and gas
Major and selected minor Other extraction Foreign
industrial group income income branch
(less income (3)
loss) (3)
(22) (23) (24)
All industries 120,893,731 21,013,968 88,607,770
Agriculture, forestry,
and fishing * 127,936 -- * 673
Mining 3,638,080 2,037,440 3,126,813
Metal mining * 1,433,557 -- * 182,890
Coal mining * 607,229 -- * 173,008
Oil and gas extraction 1,584,542 2,037,440 2,765,767
Nonmetallic minerals,
except fuels * 12,752 -- * 5,146
Construction 119,483 -- * 83,784
General building
contractors * 20,136 -- * 27,218
Heavy construction
contractors * 57,420 -- * 38,583
Special trade
contractors * 41,927 -- * 17,982
Manufacturing 67,391,789 18,743,589 27,638,925
Food and kindred
products 3,106,492 -- 1,531,208
Tobacco manufactures * 1,778,356 -- * 1,068,525
Textile mill products * 31,529 -- * 904
Apparel and other
textile products * 89,542 -- * 52,217
Lumber and wood
products * 62,506 -- * 12,452
Furniture and fixtures * 72,711 -- * 29,775
Paper and allied
products 854,652 -- * 26,739
Printing and publishing 1,987,810 -- * 314,801
Industrial plastics and
synthetic material 3,986,600 * 1,394,900 1,828,270
Drugs 4,116,672 -- 1,414,540
Other chemicals 2,074,888 -- 1,298,847
Petroleum (including
integrated) and coal
products 19,401,447 17,348,689 * 14,093,770
Rubber and miscellaneous
plastics products 516,091 -- 97,681
Leather and leather
products * 50,716 -- * 853
Stone, clay, and glass
products 173,642 -- * 53,447
Primary metal industries 1,156,941 -- 724,469
Fabricated metal
products 1,178,637 -- 140,547
Office, computing, and
accounting equipment 2,731,252 -- * 1,506,613
Other machinery, except
electrical 3,976,912 -- 789,711
Electrical and
electronic equipment 12,092,889 -- 819,692
Motor vehicles and
equipment 3,481,547 -- * 998,434
Transportation
equipment, except
motor vehicles 1,362,935 -- * 367,002
Instruments and related
products 2,750,206 -- 358,610
Miscellaneous
manufacturing and
manufacturing not
allocable 356,815 -- 109,819
Transportation and public
utilities 10,062,180 * 41,616 4,476,116
Transportation 4,292,590 -- * 4,084,653
Water transportation * 34,968 -- --
All other
transportation 4,257,621 -- * 4,084,653
Communication * 5,590,781 -- * 292,337
Electric, gas, and
sanitary services 178,808 * 41,616 * 99,126
Wholesale and retail trade 6,882,996 * 21,791 2,983,585
Wholesale trade 5,330,479 * 21,791 1,704,490
Groceries and related
products * 43,550 -- * 37,787
Machinery, equipment,
and supplies 190,922 -- * 44,084
Miscellaneous
wholesale trade 5,096,007 * 21,791 1,622,619
Drugs, chemicals,
and allied
products * 1,013,252 -- * 903,109
Petroleum and
petroleum products * 492,346 * 21,791 * 272,400
Other miscellaneous
wholesale trade 3,590,409 -- 447,110
Retail trade 1,552,517 -- 1,279,096
Building materials,
garden supplies, and
mobile home dealers -- -- --
General merchandise
stores * 93,907 -- * 83,406
Food stores * 53 -- --
Automotive dealers and
service station * 198 -- --
Apparel and accessory
stores * 69,042 -- * 37,300
Furniture and home
furnishing stores * 5,606 -- --
Eating and drinking
places 1,079,313 -- * 899,542
All other retail
stores 304,397 -- * 258,848
Finance, insurance, and
real estate 28,610,193 * 169,532 46,773,056
Banking 13,113,629 -- 32,930,336
Credit agencies other
than banks 5,093,475 -- * 3,153,617
Security, commodity
brokers, and services 3,204,977 -- * 159,241
Insurance 6,857,159 -- 10,509,334
Insurance agents,
brokers, and service * 8,198 -- * 1,407
Real estate * 5,706 -- * 6,896
Holding and other
investment companies,
except bank holding
companies 327,051 * 169,532 * 12,225
Services 4,061,074 -- 3,524,818
Hotels and other lodging
places * 563,913 -- * 297,942
Personal services * 1,842 -- * 22,938
Business services 3,053,601 -- 2,552,818
Auto repair;
miscellaneous repair
services * 675 -- --
Amusement and recreation
services 178,147 -- * 495,870
All other services 262,897 -- 155,251
Foreign income and taxes
reported on Form 1118
Deductions
Deductions
allocable
to specific
types of
income
Specifically
allocable
Major and selected minor income Total Total
industrial group [section
883(b)] (3)
(25) (26) (27)
All industries 24,911,121 201,909,309 107,480,799
Agriculture, forestry,
and fishing * 92,236 * 98,061 * 59,042
Mining * 378,536 5,133,029 4,199,314
Metal mining -- * 1,354,276 * 1,013,529
Coal mining -- * 575,397 * 548,549
Oil and gas extraction * 354,548 3,186,103 2,630,430
Nonmetallic minerals,
except fuels * 23,989 * 17,253 * 6,806
Construction * 40,924 294,026 228,015
General building
contractors * 40,924 150,124 119,147
Heavy construction
contractors -- * 91,323 * 61,372
Special trade
contractors -- * 52,579 * 47,496
Manufacturing 17,567,896 85,811,444 48,178,233
Food and kindred
products 517,916 4,632,143 2,513,109
Tobacco manufactures * 718,717 * 2,464,893 * 1,680,497
Textile mill products * 30,789 47,970 * 26,657
Apparel and other
textile products * 10,788 * 210,758 * 108,597
Lumber and wood
products * 2,983 76,157 * 36,416
Furniture and fixtures * 33,952 * 106,435 * 71,617
Paper and allied
products 474,619 1,299,730 472,386
Printing and publishing * 61,357 3,366,082 1,823,944
Industrial plastics and
synthetic material 1,632,453 5,640,689 3,132,183
Drugs 1,449,375 8,454,539 5,624,402
Other chemicals 552,709 2,895,692 1,690,790
Petroleum (including
integrated) and coal
products * 190,579 14,924,911 12,667,712
Rubber and miscellaneous
plastics products 50,542 704,508 436,016
Leather and leather
products * 4,365 * 63,404 * 14,037
Stone, clay, and glass
products * 135,532 387,642 171,408
Primary metal industries 116,468 1,059,985 501,595
Fabricated metal
products 334,411 1,241,234 646,658
Office, computing, and
accounting equipment * 836,332 6,700,626 2,153,977
Other machinery, except
electrical 919,857 4,144,570 1,990,970
Electrical and
electronic equipment 5,655,989 13,893,037 7,179,468
Motor vehicles and
equipment 1,053,508 5,298,138 1,344,068
Transportation
equipment, except
motor vehicles 464,594 2,560,215 2,073,629
Instruments and related
products 2,117,560 5,063,276 1,531,697
Miscellaneous
manufacturing and
manufacturing not
allocable 202,503 574,811 286,404
Transportation and public
utilities 2,615,529 16,849,056 14,832,180
Transportation * 2,516,237 11,584,803 10,940,760
Water transportation * 23,532 * 115,069 * 98,127
All other
transportation * 2,492,704 11,469,734 10,842,633
Communication * 13,515 4,656,524 3,663,007
Electric, gas, and
sanitary services * 85,777 607,729 228,414
Wholesale and retail trade 196,739 8,143,471 5,880,777
Wholesale trade 180,946 6,187,407 4,401,434
Groceries and related
products -- * 41,000 * 39,659
Machinery, equipment,
and supplies * 5,784 158,239 100,781
Miscellaneous
wholesale trade 175,162 5,988,168 4,320,995
Drugs, chemicals,
and allied
products * 56,465 810,817 791,439
Petroleum and
petroleum products -- * 1,402,555 * 568,747
Other miscellaneous
wholesale trade 118,696 3,774,796 2,960,808
Retail trade * 15,792 1,956,063 1,419,342
Building materials,
garden supplies, and
mobile home dealers -- * 2,656 --
General merchandise
stores -- * 242,788 * 135,548
Food stores * 13 * 4,153 * 3,449
Automotive dealers and
service station -- -- --
Apparel and accessory
stores -- * 125,147 * 80,190
Furniture and home
furnishing stores -- * 10,207 * 4,732
Eating and drinking
places * 836 1,262,250 925,979
All other retail
stores * 14,944 308,862 269,444
Finance, insurance, and
real estate 3,040,235 70,715,971 24,356,750
Banking * 2,520,932 39,669,069 7,873,266
Credit agencies other
than banks * 19,409 6,704,041 4,824,157
Security, commodity
brokers, and services * 2,279 8,440,162 2,056,750
Insurance 452,503 14,877,880 8,752,969
Insurance agents,
brokers, and service -- * 204,978 * 180,890
Real estate * 8,452 26,100 19,715
Holding and other
investment companies,
except bank holding
companies * 36,661 793,741 651,002
Services 1,039,026 14,864,252 9,744,408
Hotels and other lodging
places -- 914,712 553,882
Personal services * 291 * 125,905 * 119,710
Business services 635,938 9,032,948 5,157,554
Auto repair;
miscellaneous repair
services * 3,347 * 2,253 * 1,347
Amusement and recreation
services * 234,220 3,450,600 2,848,448
All other services * 165,231 1,337,835 1,063,546
Foreign income and taxes
reported on Form 1118
Deductions
Deductions allocable to specific
types of income
Rental, royalty, and
licensing expenses
Depreciation,
Major and selected minor depletion, Service
industrial group and Other expenses
amortization
(28) (29) (30)
All industries 1,257,812 7,358,799 13,663,474
Agriculture, forestry,
and fishing -- * 521 --
Mining 117,568 66,502 1,266,808
Metal mining * 874 * 933 * 1,063
Coal mining * 13,438 * 5,882 --
Oil and gas extraction 103,257 59,687 1,261,520
Nonmetallic minerals,
except fuels -- -- * 4,225
Construction * 349 * 1,281 131,860
General building
contractors * 150 * 508 * 74,977
Heavy construction
contractors -- * 460 * 43,766
Special trade
contractors * 200 * 313 * 13,117
Manufacturing 298,396 3,113,488 2,125,735
Food and kindred
products * 1,271 * 786,114 * 1,867
Tobacco manufactures -- * 37,383 --
Textile mill products -- -- * 301
Apparel and other
textile products * 71 * 9,729 * 1,956
Lumber and wood
products -- -- --
Furniture and fixtures * 216 * 2,918 * 1,944
Paper and allied
products * 620 * 19,947 * 56,472
Printing and publishing * 2,892 350,370 * 35,935
Industrial plastics and
synthetic material * 4,827 18,085 * 170,175
Drugs * 8 * 769,599 * 19,115
Other chemicals * 354 * 2,144 * 10,268
Petroleum (including
integrated) and coal
products * 8,536 * 147,312 * 234,590
Rubber and miscellaneous
plastics products * 3,758 * 6,524 * 333
Leather and leather
products -- * 1,187 * 371
Stone, clay, and glass
products * 16 * 1,104 * 41,425
Primary metal industries * 159,211 * 65,016 --
Fabricated metal
products * 2,466 * 11,173 * 49,644
Office, computing, and
accounting equipment * 1,333 * 2,936 * 1,945
Other machinery, except
electrical * 662 61,786 185,236
Electrical and
electronic equipment * 796 260,198 206,656
Motor vehicles and
equipment * 1,241 * 305,446 * 532,719
Transportation
equipment, except
motor vehicles * 103,305 * 82,546 * 557,084
Instruments and related
products * 1,302 * 67,996 * 13,245
Miscellaneous
manufacturing and
manufacturing not
allocable * 5,512 * 103,974 * 4,457
Transportation and public
utilities 33,657 60,222 5,797,057
Transportation * 1,848 * 5,542 5,548,311
Water transportation * 409 * 3,207 * 93,256
All other
transportation * 1,439 * 2,336 5,455,055
Communication * 1 * 54,668 * 184,200
Electric, gas, and
sanitary services * 31,808 * 12 * 64,546
Wholesale and retail trade 8,652 315,244 159,090
Wholesale trade 7,091 181,708 59,965
Groceries and related
products * 161 * 951 * 2,085
Machinery, equipment,
and supplies * 5,576 * 10,312 * 1,489
Miscellaneous
wholesale trade * 1,353 170,445 56,391
Drugs, chemicals,
and allied
products -- -- * 17,228
Petroleum and
petroleum products -- -- --
Other miscellaneous
wholesale trade * 1,353 170,445 39,163
Retail trade * 1,561 133,536 * 99,125
Building materials,
garden supplies, and
mobile home dealers -- -- --
General merchandise
stores * 388 -- * 70,149
Food stores -- * 2,658 --
Automotive dealers and
service station -- -- --
Apparel and accessory
stores -- * 373 --
Furniture and home
furnishing stores -- * 1,929 --
Eating and drinking
places -- * 15,055 * 3,594
All other retail
stores * 1,174 * 113,521 * 25,382
Finance, insurance, and
real estate 551,075 1,551,966 1,008,729
Banking * 403,901 488,406 * 68,402
Credit agencies other
than banks * 56,245 * 3,428 * 42,909
Security, commodity
brokers, and services * 85 * 545,215 219,290
Insurance * 88,339 497,258 489,676
Insurance agents,
brokers, and service * 358 * 4,242 * 12,675
Real estate * 1,804 * 10,039 * 4,250
Holding and other
investment companies,
except bank holding
companies * 343 * 3,378 * 171,527
Services 248,114 2,249,674 3,174,195
Hotels and other lodging
places * 4,553 * 12,606 * 9,787
Personal services -- -- * 117,789
Business services 12,276 461,536 1,877,405
Auto repair;
miscellaneous repair
services * 356 * 10 * 469
Amusement and recreation
services * 230,806 1,696,939 * 365,003
All other services * 122 78,483 803,743
Foreign income and taxes
reported on Form 1118
Deductions
Deductions not
allocable to
specific types
of income
Other
deductions
allocable Research
Major and selected minor to Total and
industrial group specific development
types of
income
(31) (32) (33)
All industries 85,200,714 94,428,510 9,565,637
Agriculture, forestry,
and fishing * 58,521 * 39,019 * 20,993
Mining 2,740,435 933,715 * 38,287
Metal mining * 1,010,659 * 340,747 --
Coal mining * 529,229 * 26,648 --
Oil and gas extraction 1,205,966 555,672 * 38,287
Nonmetallic minerals,
except fuels * 2,581 * 10,447 --
Construction 94,524 66,011 * 1,015
General building
contractors * 43,513 * 30,977 * 179
Heavy construction
contractors * 17,145 * 29,951 --
Special trade
contractors * 33,866 * 5,083 * 836
Manufacturing 42,640,613 37,633,211 7,834,168
Food and kindred
products 1,723,856 2,119,034 50,435
Tobacco manufactures * 1,643,114 * 784,396 * 57,775
Textile mill products * 26,356 21,314 * 1,919
Apparel and other
textile products * 96,840 * 102,161 * 5,397
Lumber and wood
products * 38,416 * 39,741 * 399
Furniture and fixtures * 66,539 * 34,818 * 4,426
Paper and allied
products 395,347 827,344 124,072
Printing and publishing 1,434,747 1,542,138 * 17,717
Industrial plastics and
synthetic material 2,939,096 2,508,506 506,875
Drugs 4,835,681 2,830,137 726,805
Other chemicals 1,678,023 1,204,902 345,898
Petroleum (including
integrated) and coal
products 12,277,274 2,257,200 143,030
Rubber and miscellaneous
plastics products 425,401 268,493 78,867
Leather and leather
products * 12,480 * 49,367 * 1,260
Stone, clay, and glass
products * 128,863 216,234 * 33,135
Primary metal industries 277,367 558,391 9,476
Fabricated metal
products 583,374 594,576 78,327
Office, computing, and
accounting equipment * 2,147,762 4,546,649 1,786,323
Other machinery, except
electrical 1,743,286 2,153,600 292,562
Electrical and
electronic equipment 6,711,819 6,713,569 1,626,595
Motor vehicles and
equipment 504,662 3,954,070 460,521
Transportation
equipment, except
motor vehicles 1,330,694 486,586 133,758
Instruments and related
products 1,449,154 3,531,579 1,268,596
Miscellaneous
manufacturing and
manufacturing not
allocable 172,462 288,407 80,000
Transportation and public
utilities 8,941,243 2,016,875 * 57,203
Transportation 5,385,058 644,043 * 7,874
Water transportation * 1,255 * 16,942 --
All other
transportation 5,383,803 627,101 * 7,874
Communication * 3,424,138 993,517 * 49,218
Electric, gas, and
sanitary services 132,048 379,315 * 110
Wholesale and retail trade 5,397,790 2,262,694 24,693
Wholesale trade 4,212,670 1,725,973 24,284
Groceries and related
products * 36,461 * 1,341 --
Machinery, equipment,
and supplies * 83,404 57,458 * 49
Miscellaneous
wholesale trade 4,092,805 1,667,173 24,235
Drugs, chemicals,
and allied
products * 774,212 * 19,378 --
Petroleum and
petroleum products * 568,747 * 833,808 --
Other miscellaneous
wholesale trade 2,749,846 813,988 24,235
Retail trade 1,185,120 536,721 * 409
Building materials,
garden supplies, and
mobile home dealers -- * 2,658 --
General merchandise
stores * 65,012 * 107,240 * 6
Food stores * 791 * 704 --
Automotive dealers and
service station -- -- --
Apparel and accessory
stores * 79,817 * 44,957 * 171
Furniture and home
furnishing stores * 2,803 * 5,476 --
Eating and drinking
places * 907,331 336,271 * 12
All other retail
stores 129,367 39,418 * 221
Finance, insurance, and
real estate 21,246,980 46,357,221 * 106,260
Banking 6,912,557 31,795,803 * 99,921
Credit agencies other
than banks 4,721,575 1,879,884 --
Security, commodity
brokers, and services 1,292,161 6,383,412 --
Insurance 7,677,696 6,124,911 * 944
Insurance agents,
brokers, and service * 163,615 * 24,088 * 5,394
Real estate 3,622 * 6,384 --
Holding and other
investment companies,
except bank holding
companies 475,755 142,738 --
Services 4,072,605 5,119,764 1,483,018
Hotels and other lodging
places * 526,937 360,830 --
Personal services * 1,921 * 6,195 * 317
Business services 2,806,337 3,875,394 1,445,526
Auto repair;
miscellaneous repair
services * 512 * 905 * 1
Amusement and recreation
services * 555,700 602,152 * 16,487
All other services 181,198 274,289 * 20,688
Foreign income and taxes
reported on Form 1118
Deductions
Deductions not
allocable to
specific types
of income
Deductions
from oil
Major and selected minor Interest Other and gas
industrial group extraction
income (4)
(34) (35) (36)
All industries 43,342,264 40,176,836 8,915,360
Agriculture, forestry,
and fishing * 8,934 * 90,93 --
Mining 302,159 589,613 1,032,644
Metal mining * 98,566 * 242,182 --
Coal mining * 25,751 -- --
Oil and gas extraction 169,871 346,379 1,032,644
Nonmetallic minerals,
except fuels * 7,971 * 1,053 --
Construction * 9,348 * 34,612 --
General building
contractors * 3,248 * 27,532 --
Heavy construction
contractors * 4,438 * 5,875 --
Special trade
contractors * 1,662 * 1,206 --
Manufacturing 12,397,235 16,818,994 7,836,010
Food and kindred
products 783,997 1,270,577 --
Tobacco manufactures * 313,781 * 412,840 --
Textile mill products * 14,510 * 4,492 --
Apparel and other
textile products * 67,938 * 26,571 --
Lumber and wood
products * 22,088 * 17,192 --
Furniture and fixtures * 23,354 * 6,582 --
Paper and allied
products 200,269 499,898 --
Printing and publishing 192,317 1,294,902 --
Industrial plastics and
synthetic material 1,317,191 669,543 * 538,615
Drugs 935,282 953,100 --
Other chemicals 367,840 474,129 --
Petroleum (including
integrated) and coal
products 1,556,901 557,242 7,299,395
Rubber and miscellaneous
plastics products 103,100 85,280 --
Leather and leather
products * 6,876 * 39,636 --
Stone, clay, and glass
products 96,151 * 85,634 --
Primary metal industries 184,443 345,538 --
Fabricated metal
products 292,676 211,494 --
Office, computing, and
accounting equipment 491,793 2,266,819 --
Other machinery, except
electrical 526,380 1,157,116 --
Electrical and
electronic equipment 1,997,431 3,047,823 --
Motor vehicles and
equipment 2,147,313 1,342,840 --
Transportation
equipment, except
motor vehicles 181,469 171,265 --
Instruments and related
products 503,284 1,748,345 --
Miscellaneous
manufacturing and
manufacturing not
allocable 70,851 130,136 --
Transportation and public
utilities 1,002,896 951,350 * 35,759
Transportation 159,933 474,034 --
Water transportation * 16,406 * 416 --
All other
transportation 143,527 473,618 --
Communication * 492,785 * 451,514 --
Electric, gas, and
sanitary services 350,178 * 25,803 * 35,759
Wholesale and retail trade 1,459,232 719,208 * 10,947
Wholesale trade 1,158,259 506,770 * 10,947
Groceries and related
products * 280 * 638 --
Machinery, equipment,
and supplies * 6,319 * 47,736 --
Miscellaneous
wholesale trade 1,151,660 458,397 * 10,947
Drugs, chemicals,
and allied
products * 2,301 * 8,476 --
Petroleum and
petroleum products * 762,332 * 71,462 * 10,947
Other miscellaneous
wholesale trade 387,027 378,458 --
Retail trade 300,973 212,438 --
Building materials,
garden supplies, and
mobile home dealers -- -- --
General merchandise
stores * 80,490 * 26,744 --
Food stores * 468 * 218 --
Automotive dealers and
service station -- -- --
Apparel and accessory
stores * 30,655 * 12,949 --
Furniture and home
furnishing stores * 965 * 2,742 --
Eating and drinking
places * 175,733 * 158,093 --
All other retail
stores 12,661 * 11,692 --
Finance, insurance, and
real estate 27,300,990 18,442,444 --
Banking 18,942,052 12,279,487 --
Credit agencies other
than banks 1,222,764 * 657,120 --
Security, commodity
brokers, and services 5,892,346 488,979 --
Insurance 1,154,868 4,942,605 --
Insurance agents,
brokers, and service * 15,316 * 3,373 --
Real estate * 5,586 * 798 --
Holding and other
investment companies,
except bank holding
companies 68,057 70,081 --
Services 861,470 2,611,521 --
Hotels and other lodging
places * 154,879 * 192,524 --
Personal services * 3,385 * 221 --
Business services 250,159 2,053,030 --
Auto repair;
miscellaneous repair
services * 95 * 689 --
Amusement and recreation
services * 427,521 * 152,531 --
All other services 25,431 212,527 --
Foreign income and taxes
reported on Form 1118
Taxable Taxable
income Adjustments income
Major and selected minor (less loss) to taxable (less loss)
industrial group before income after
adjustments adjustment
(37) (38) (39)
All industries 157,989,290 7,715,086 150,274,204
Agriculture, forestry,
and fishing 139,972 * 4,133 135,839
Mining 3,159,297 288,600 2,870,696
Metal mining * 488,462 * 5,310 * 483,152
Coal mining * 307,372 -- * 307,372
Oil and gas extraction 2,322,103 283,290 2,038,812
Nonmetallic minerals,
except fuels * 41,360 -- * 41,360
Construction 155,458 * 6,287 149,171
General building
contractors 67,007 * 2,403 64,605
Heavy construction
contractors 44,480 -- 44,480
Special trade
contractors 43,971 * 3,885 40,086
Manufacturing 102,821,437 4,235,398 98,586,039
Food and kindred
products 9,057,195 134,739 8,922,456
Tobacco manufactures * 3,836,947 * (5) * 3,836,947
Textile mill products 86,228 * 700 85,528
Apparel and other
textile products 862,195 * 44,756 817,439
Lumber and wood
products 139,943 * (5) 139,943
Furniture and fixtures 76,913 * 1,107 75,806
Paper and allied
products 2,044,183 * 38,928 2,005,255
Printing and publishing 1,550,092 354,886 1,195,206
Industrial plastics and
synthetic material 5,807,726 341,991 5,465,735
Drugs 7,792,900 465,238 7,327,662
Other chemicals 4,044,534 84,122 3,960,412
Petroleum (including
integrated) and coal
products 19,801,407 129,124 19,672,283
Rubber and miscellaneous
plastics products 1,210,411 19,292 1,191,120
Leather and leather
products 74,177 -- 74,177
Stone, clay, and glass
products 314,446 * (5) 314,446
Primary metal industries 1,329,018 11,043 1,317,975
Fabricated metal
products 2,206,858 118,428 2,088,431
Office, computing, and
accounting equipment 10,424,085 * 801,571 9,622,515
Other machinery, except
electrical 3,305,695 87,521 3,218,174
Electrical and
electronic equipment 13,430,204 915,992 12,514,212
Motor vehicles and
equipment 7,730,127 31,245 7,698,882
Transportation
equipment, except
motor vehicles 2,135,312 * 26,305 2,109,007
Instruments and related
products 4,913,319 558,748 4,354,571
Miscellaneous
manufacturing and
manufacturing not
allocable 647,521 * 69,663 577,856
Transportation and public
utilities 5,372,629 941,262 4,431,367
Transportation 2,120,187 851,056 1,269,130
Water transportation 205,621 * 51,065 154,556
All other
transportation 1,914,565 799,991 1,114,574
Communication 2,604,500 * 65,795 2,538,706
Electric, gas, and
sanitary services 647,943 24,411 623,531
Wholesale and retail trade 5,777,769 910,079 4,867,690
Wholesale trade 3,299,037 774,933 2,524,104
Groceries and related
products 20,489 * (5) 20,489
Machinery, equipment,
and supplies 77,199 * 20,300 56,899
Miscellaneous
wholesale trade 3,201,349 754,633 2,446,716
Drugs, chemicals,
and allied
products 291,314 * 17,077 274,237
Petroleum and
petroleum products * 761,536 * 324,892 * 436,644
Other miscellaneous
wholesale trade 2,148,499 412,664 1,735,835
Retail trade 2,478,732 135,147 2,343,586
Building materials,
garden supplies, and
mobile home dealers * 7,772 -- 7,772
General merchandise
stores * 209,213 * 5,699 * 203,515
Food stores * 72,866 * 50,064 * 22,802
Automotive dealers and
service station * 1,169 -- * 1,169
Apparel and accessory
stores 310,565 * 25,154 285,411
Furniture and home
furnishing stores * 17,738 * (5) * 17,738
Eating and drinking
places 1,577,116 * 15,149 1,561,967
All other retail
stores 282,293 * 39,081 243,212
Finance, insurance, and
real estate 31,906,032 717,773 31,187,259
Banking 13,225,653 69,232 13,156,420
Credit agencies other
than banks 2,154,220 * 9,418 2,144,802
Security, commodity
brokers, and services 4,896,703 48,264 4,848,439
Insurance 9,722,081 563,665 9,158,416
Insurance agents,
brokers, and service 243,867 -- 243,867
Real estate 45,503 * 3,295 42,208
Holding and other
investment companies,
except bank holding
companies 1,617,005 23,898 1,593,107
Services 8,657,696 611,554 8,046,142
Hotels and other lodging
places 579,872 * 29,028 550,843
Personal services * 57,442 -- * 57,442
Business services 6,787,596 377,714 6,409,883
Auto repair;
miscellaneous repair
services 8,770 * 465 8,305
Amusement and recreation
services 680,603 29,987 650,615
All other services 543,414 174,360 369,054
Foreign income and taxes
reported on Form 1118
Foreign taxes available for credit
Reduction
for
Major and selected minor Total certain Carryover
industrial group foreign
taxes
(40) (41) (42)
All industries 49,979,466 2,516,340 7,416,008
Agriculture, forestry,
and fishing 38,313 -- * 3,837
Mining 1,416,118 444,333 562,043
Metal mining * 417,581 * 1,703 * 121,791
Coal mining * 134,825 * 26,791 * 16,450
Oil and gas extraction 854,837 410,416 418,289
Nonmetallic minerals,
except fuels * 8,875 * 5,423 * 5,512
Construction 63,431 -- 15,329
General building
contractors 34,284 -- * 4,967
Heavy construction
contractors 14,103 -- * 8,397
Special trade
contractors 15,045 -- * 1,965
Manufacturing 35,792,177 2,059,580 5,450,727
Food and kindred
products 3,042,404 -- 128,921
Tobacco manufactures * 1,379,627 -- * 67,626
Textile mill products 28,485 * 75 * 474
Apparel and other
textile products 291,790 -- * 306
Lumber and wood
products 52,370 -- * 11,604
Furniture and fixtures 41,940 -- * 15,666
Paper and allied
products 716,140 -- 77,341
Printing and publishing 331,423 -- 9,504
Industrial plastics and
synthetic material 1,851,492 -- 97,854
Drugs 2,815,266 -- 105,561
Other chemicals 1,471,640 -- 20,667
Petroleum (including
integrated) and coal
products 9,102,941 2,054,206 3,770,305
Rubber and miscellaneous
plastics products 440,363 -- 16,549
Leather and leather
products 11,896 -- * 208
Stone, clay, and glass
products 144,642 -- * 34,489
Primary metal industries 701,061 * 5,049 265,146
Fabricated metal
products 844,557 -- 47,490
Office, computing, and
accounting equipment 3,376,725 -- * 81,825
Other machinery, except
electrical 985,714 -- 133,257
Electrical and
electronic equipment 3,437,298 -- 232,766
Motor vehicles and
equipment 2,624,433 -- * 227,137
Transportation
equipment, except
motor vehicles 527,783 -- * 16,440
Instruments and related
products 1,344,804 -- 63,803
Miscellaneous
manufacturing and
manufacturing not
allocable 217,384 * 251 25,789
Transportation and public
utilities 969,683 * 122 97,772
Transportation 213,860 -- 56,636
Water transportation 29,694 -- * 4,015
All other
transportation 184,166 -- 52,621
Communication 539,130 -- * 26,238
Electric, gas, and
sanitary services 216,693 * 122 * 14,898
Wholesale and retail trade 1,894,147 * (5) 237,214
Wholesale trade 980,300 * (5) 170,654
Groceries and related
products 7,462 -- * 1,043
Machinery, equipment,
and supplies 16,579 -- * 4,651
Miscellaneous
wholesale trade 956,258 * (5) 164,961
Drugs, chemicals,
and allied
products 108,659 -- * 13,893
Petroleum and
petroleum products * 143,801 -- * 22,910
Other miscellaneous
wholesale trade 703,798 * (5) 128,157
Retail trade 913,847 -- 56,559
Building materials,
garden supplies, and
mobile home dealers * 1,835 -- --
General merchandise
stores * 46,648 -- * 15,794
Food stores * 7,987 -- --
Automotive dealers and
service station * 137 -- * 12
Apparel and accessory
stores 135,143 -- * 13,361
Furniture and home
furnishing stores * 3,573 -- * 7
Eating and drinking
places 654,592 -- * 32,467
All other retail
stores 63,932 -- * 4,918
Finance, insurance, and
real estate 7,370,111 * 12,176 809,000
Banking 3,672,822 -- 391,946
Credit agencies other
than banks 505,543 -- 39,738
Security, commodity
brokers, and services 801,877 -- 56,838
Insurance 1,703,013 -- 219,370
Insurance agents,
brokers, and service 50,660 -- * 400
Real estate 16,188 -- * 4,203
Holding and other
investment companies,
except bank holding
companies 620,007 * 12,176 96,504
Services 2,435,487 * 129 240,087
Hotels and other lodging
places 264,248 -- * 49,004
Personal services * 30,576 -- * 13,520
Business services 1,717,946 * 129 85,634
Auto repair;
miscellaneous repair
services 1,779 -- * 232
Amusement and recreation
services 245,618 -- * 12,378
All other services 175,320 -- 79,319
Foreign income and taxes
reported on Form 1118
Foreign taxes available for credit
Paid or accrued
Taxes
Total paid, withheld
Major and selected minor accrued Total at
industrial group and deemed source on
paid dividends
(43) (44) (45)
All industries 45,079,798 16,056,942 2,767,327
Agriculture, forestry,
and fishing 34,476 12,702 2,521
Mining 1,298,408 1,018,859 53,846
Metal mining * 297,492 * 271,803 * 26,875
Coal mining * 145,166 * 143,637 * 1,408
Oil and gas extraction 846,964 602,320 * 25,198
Nonmetallic minerals,
except fuels * 8,785 * 1,099 * 366
Construction 45,103 32,014 1,490
General building
contractors 29,317 23,355 * 420
Heavy construction
contractors 5,706 5,088 * 624
Special trade
contractors 13,080 3,571 * 446
Manufacturing 32,401,030 9,367,486 2,203,741
Food and kindred
products 2,913,483 550,383 241,284
Tobacco manufactures * 1,312,000 * 291,825 * 208,396
Textile mill products 28,086 2,933 * 1,790
Apparel and other
textile products 291,484 36,864 * 13,082
Lumber and wood
products 40,766 5,233 * 1,468
Furniture and fixtures 26,274 4,231 * 2,671
Paper and allied
products 638,799 117,383 44,923
Printing and publishing 321,919 163,917 14,125
Industrial plastics and
synthetic material 1,763,639 412,787 115,894
Drugs 2,709,705 561,850 323,897
Other chemicals 1,450,973 366,355 94,684
Petroleum (including
integrated) and coal
products 7,386,841 3,991,117 331,287
Rubber and miscellaneous
plastics products 423,814 65,481 23,181
Leather and leather
products 11,688 9,683 * 14
Stone, clay, and glass
products 110,153 25,765 7,981
Primary metal industries 440,963 130,654 13,007
Fabricated metal
products 797,067 102,958 29,376
Office, computing, and
accounting equipment 3,294,900 665,251 268,408
Other machinery, except
electrical 852,457 210,339 35,824
Electrical and
electronic equipment 3,204,532 865,853 147,954
Motor vehicles and
equipment 2,397,296 415,704 186,852
Transportation
equipment, except
motor vehicles 511,343 114,062 31,947
Instruments and related
products 1,281,000 213,941 55,038
Miscellaneous
manufacturing and
manufacturing not
allocable 191,846 42,919 10,677
Transportation and public
utilities 872,033 286,757 22,552
Transportation 157,224 68,415 5,879
Water transportation 25,679 12,262 * 1,138
All other
transportation 131,544 56,153 4,740
Communication 512,893 190,763 * 5,799
Electric, gas, and
sanitary services 201,917 27,579 10,875
Wholesale and retail trade 1,656,933 535,490 90,146
Wholesale trade 809,646 298,976 65,388
Groceries and related
products 6,420 * 1,454 * 279
Machinery, equipment,
and supplies 11,928 7,185 1,055
Miscellaneous
wholesale trade 791,298 290,337 64,053
Drugs, chemicals,
and allied
products 94,766 78,454 * 1,759
Petroleum and
petroleum products * 120,891 * 67,147 * 24,466
Other miscellaneous
wholesale trade 575,642 144,737 37,828
Retail trade 847,287 236,513 24,758
Building materials,
garden supplies, and
mobile home dealers * 1,835 * 1,835 * 2
General merchandise
stores * 30,854 * 23,554 * 6,269
Food stores * 7,987 * 7,987 * 4
Automotive dealers and
service station * 125 * 125 * 32
Apparel and accessory
stores 121,782 8,467 * 907
Furniture and home
furnishing stores * 3,566 * 1,072 * 373
Eating and drinking
places 622,125 159,618 * 12,459
All other retail
stores 59,014 33,855 * 4,712
Finance, insurance, and
real estate 6,573,288 3,936,806 319,619
Banking 3,280,877 2,225,266 149,514
Credit agencies other
than banks 465,804 186,303 17,133
Security, commodity
brokers, and services 745,040 424,387 39,477
Insurance 1,483,643 1,039,290 85,587
Insurance agents,
brokers, and service 50,260 6,005 * 3,186
Real estate 11,984 2,805 303
Holding and other
investment companies,
except bank holding
companies 535,680 52,750 24,419
Services 2,195,529 866,829 73,412
Hotels and other lodging
places 215,244 70,713 * 1,205
Personal services * 17,056 * 3,782 * 1,386
Business services 1,632,440 593,583 65,420
Auto repair;
miscellaneous repair
services 1,547 486 * (5)
Amusement and recreation
services 233,240 154,108 * 3,681
All other services 96,001 44,156 1,720
Foreign income and taxes
reported on Form 1118
Foreign taxes available for credit
Paid or accrued
Other taxes
Taxes withheld at paid or
source on-- accrued
on--
Rents,
royalties,
Major and selected minor Interest and Branch
industrial group license income
fees
(46) (47) (48)
All industries 640,883 2,238,232 6,063,443
Agriculture, forestry,
and fishing * 484 * 3,076 * 1,724
Mining 9,917 12,595 286,739
Metal mining * 5,538 * 1,235 * 109,919
Coal mining * 1,674 -- * 9,278
Oil and gas extraction * 2,231 11,360 167,282
Nonmetallic minerals,
except fuels * 474 -- * 260
Construction * 490 835 * 4,455
General building
contractors * 89 * 383 * 2,765
Heavy construction
contractors * 285 * 183 * 334
Special trade
contractors * 116 * 269 * 1,356
Manufacturing 140,905 1,580,966 2,945,132
Food and kindred
products 9,642 99,894 * 162,714
Tobacco manufactures * 8,255 * 58357 * 10,898
Textile mill products * 346 * 657 * 46
Apparel and other
textile products * 71 16,908 * 6,168
Lumber and wood
products * 1,274 * 579 * 1,890
Furniture and fixtures * 438 620 --
Paper and allied
products 2,740 36,249 * 32,486
Printing and publishing 1,267 125,236 * 9,591
Industrial plastics and
synthetic material 5,733 81,070 143,821
Drugs 7,394 99,741 89,468
Other chemicals 3,928 116,233 145,395
Petroleum (including
integrated) and coal
products 31,842 36,099 * 1,956,226
Rubber and miscellaneous
plastics products 2,187 31,172 * 8,542
Leather and leather
products * 192 * 8,531 * 931
Stone, clay, and glass
products 3,625 7,907 * 181
Primary metal industries 2,432 10,388 * 38,517
Fabricated metal
products 3,115 15,271 4,741
Office, computing, and
accounting equipment * 2,462 328,268 * 51,561
Other machinery, except
electrical 9,760 34,078 50,600
Electrical and
electronic equipment 19,519 247,921 91,340
Motor vehicles and
equipment 15,393 63,905 * 72,561
Transportation
equipment, except
motor vehicles 1,637 29,585 * 41,522
Instruments and related
products 6,464 118,933 20,193
Miscellaneous
manufacturing and
manufacturing not
allocable 1,191 13,363 5,741
Transportation and public
utilities 7,467 21,541 36,575
Transportation 2,091 4,353 * 27,786
Water transportation * 85 * 1,198 --
All other
transportation 2,006 3,154 * 27,786
Communication * 855 * 15,739 * 5,716
Electric, gas, and
sanitary services * 4,522 * 1,450 * 3,074
Wholesale and retail trade 31,323 123,960 254,711
Wholesale trade 26,777 43,797 141,810
Groceries and related
products * 99 * 188 * 791
Machinery, equipment,
and supplies 347 * 396 * 3,089
Miscellaneous
wholesale trade 26,331 43,212 137,930
Drugs, chemicals,
and allied
products * 1 * 260 * 75,989
Petroleum and
petroleum products * 3,936 * 408 * 38,108
Other miscellaneous
wholesale trade 22,393 42,544 23,833
Retail trade 4,546 80,164 112,901
Building materials,
garden supplies, and
mobile home dealers -- * 1,834 --
General merchandise
stores * 3 * 6,742 * 7,194
Food stores * 582 * 7,401 --
Automotive dealers and
service station * 59 * 12 --
Apparel and accessory
stores * 117 * 3,246 * 1,700
Furniture and home
furnishing stores * 19 * 680 --
Eating and drinking
places * 2,942 52,397 * 90,147
All other retail
stores * 823 7,852 * 13,861
Finance, insurance, and
real estate 435,813 15,362 2,435,572
Banking 201,582 * 694 1,615,057
Credit agencies other
than banks * 3,313 * 9,312 * 141,882
Security, commodity
brokers, and services 73,091 * 40 79,323
Insurance 152,849 1,528 596,755
Insurance agents,
brokers, and service * 92 -- * 1,866
Real estate * 1,378 * 416 * 407
Holding and other
investment companies,
except bank holding
companies 3,507 * 3,372 * 282
Services 14,485 479,897 98,535
Hotels and other lodging
places * 2,467 * 34,763 * 15,046
Personal services * 157 * 902 * 1,299
Business services 6,984 314,307 74,308
Auto repair;
miscellaneous repair
services * 105 * 359 --
Amusement and recreation
services * 4,683 117,745 * 7,089
All other services * 88 11,821 * 794
Foreign income and taxes
reported on Form 1118
Foreign taxes
available for credit
Paid or accrued
Other taxes paid
or accrued on--
Specifically
allocable
Major and selected minor income Service
industrial group [section income
863(b)]
(49) (50)
All industries 29,802 292,786
Agriculture, forestry,
and fishing -- --
Mining -- * 12,908
Metal mining -- * 8,171
Coal mining -- --
Oil and gas extraction -- * 4,737
Nonmetallic minerals,
except fuels -- --
Construction -- 22,828
General building
contractors -- * 18,459
Heavy construction
contractors -- * 3,121
Special trade
contractors -- * 1,246
Manufacturing 15,116 83,972
Food and kindred
products * 817 * 6,964
Tobacco manufactures -- * 839
Textile mill products -- * 9
Apparel and other
textile products -- * 379
Lumber and wood
products -- * 15
Furniture and fixtures -- * 253
Paper and allied
products * 509 * 460
Printing and publishing * 40 * 1,146
Industrial plastics and
synthetic material * 93 * 3,051
Drugs * 317 * 5,979
Other chemicals -- * 4,763
Petroleum (including
integrated) and coal
products -- * 361
Rubber and miscellaneous
plastics products * 78 * 98
Leather and leather
products -- * 12
Stone, clay, and glass
products * 71 * 2,616
Primary metal industries -- * 2,151
Fabricated metal
products -- * 279
Office, computing, and
accounting equipment -- * 4,557
Other machinery, except
electrical * 358 19,169
Electrical and
electronic equipment * 12,051 9,582
Motor vehicles and
equipment -- * 10,972
Transportation
equipment, except
motor vehicles * 232 * 7,866
Instruments and related
products * 549 * 2,405
Miscellaneous
manufacturing and
manufacturing not
allocable -- * 47
Transportation and public
utilities * 6,887 22,252
Transportation * 6,788 15,868
Water transportation -- * 4,709
All other
transportation * 6,768 11,158
Communication * 98 * 2,369
Electric, gas, and
sanitary services -- * 4,015
Wholesale and retail trade -- 9,568
Wholesale trade -- 2,599
Groceries and related
products -- * 97
Machinery, equipment,
and supplies -- * 95
Miscellaneous
wholesale trade -- 2,406
Drugs, chemicals,
and allied
products -- * 194
Petroleum and
petroleum products -- * 227
Other miscellaneous
wholesale trade -- 1,984
Retail trade -- * 6,969
Building materials,
garden supplies, and
mobile home dealers -- --
General merchandise
stores -- * 1,264
Food stores -- --
Automotive dealers and
service station -- * 12
Apparel and accessory
stores -- --
Furniture and home
furnishing stores -- --
Eating and drinking
places -- --
All other retail
stores -- * 5,693
Finance, insurance, and
real estate * 40 83,257
Banking * 40 * 4,279
Credit agencies other
than banks -- * 4,828
Security, commodity
brokers, and services -- 16,469
Insurance -- 51,422
Insurance agents,
brokers, and service -- * 494
Real estate -- * 41
Holding and other
investment companies,
except bank holding
companies -- * 5,724
Services * 7,759 58,002
Hotels and other lodging
places -- * 5,263
Personal services -- * 39
Business services * 7,759 16,733
Auto repair;
miscellaneous repair
services -- * 18
Amusement and recreation
services -- * 16,899
All other services -- 19,050
Foreign income and taxes
reported on Form 1118
Foreign taxes
available for credit
Paid or
accrued
Other
taxes
paid or
accrued
on--
Taxes
Major and selected minor Other deemed
industrial group income paid
(51) (52)
All industries 4,024,468 29,022,856
Agriculture, forestry,
and fishing * 4,897 * 21,774
Mining 642,854 279,548
Metal mining * 120,065 * 25,690
Coal mining * 131,276 * 1,529
Oil and gas extraction 391,513 244,644
Nonmetallic minerals,
except fuels -- * 7,686
Construction 1,918 * 16,088
General building
contractors * 1,238 * 5,962
Heavy construction
contractors * 542 * 618
Special trade
contractors * 137 * 9,509
Manufacturing 2,397,654 23,033,544
Food and kindred
products 29,068 2,363,100
Tobacco manufactures * 5,079 * 1,020,175
Textile mill products * 84 * 25,154
Apparel and other
textile products * 256 * 254,620
Lumber and wood
products * 7 * 35,533
Furniture and fixtures * 249 * 22,043
Paper and allied
products * 16 521,416
Printing and publishing 12,511 158,002
Industrial plastics and
synthetic material 63,124 1,350,852
Drugs 35,053 2,147,856
Other chemicals 1,351 1,084,618
Petroleum (including
integrated) and coal
products 1,635,322 3,395,725
Rubber and miscellaneous
plastics products * 223 358,333
Leather and leather
products * 4 * 2,005
Stone, clay, and glass
products * 3,385 84,388
Primary metal industries 64,158 310,309
Fabricated metal
products 50,176 694,109
Office, computing, and
accounting equipment * 9,995 2,629,650
Other machinery, except
electrical 60,550 642,117
Electrical and
electronic equipment 337,487 2,338,679
Motor vehicles and
equipment * 66,022 1,981,592
Transportation
equipment, except
motor vehicles * 1,273 397,281
Instruments and related
products 10,360 1,067,059
Miscellaneous
manufacturing and
manufacturing not
allocable 11,901 148,927
Transportation and public
utilities 169,482 585,276
Transportation * 5,651 88,808
Water transportation * 5,131 * 13,417
All other
transportation * 520 75,391
Communication * 160,187 * 322,130
Electric, gas, and
sanitary services 3,644 174,338
Wholesale and retail trade 25,781 1,121,443
Wholesale trade 18,606 510,669
Groceries and related
products -- * 4,965
Machinery, equipment,
and supplies 2,202 4,744
Miscellaneous
wholesale trade 16,404 500,960
Drugs, chemicals,
and allied
products * 249 * 16,312
Petroleum and
petroleum products * 1 * 53,744
Other miscellaneous
wholesale trade 16,154 430,905
Retail trade 7,175 610,774
Building materials,
garden supplies, and
mobile home dealers -- --
General merchandise
stores * 2,082 * 7,300
Food stores -- --
Automotive dealers and
service station * 9 --
Apparel and accessory
stores * 2,496 * 113,315
Furniture and home
furnishing stores -- * 2,494
Eating and drinking
places * 1,673 * 462,507
All other retail
stores * 914 * 25,159
Finance, insurance, and
real estate 647,142 2,636,482
Banking 254,100 1,055,611
Credit agencies other
than banks * 9,835 279,502
Security, commodity
brokers, and services 215,987 320,652
Insurance 151,149 444,353
Insurance agents,
brokers, and service * 366 * 44,255
Real estate * 260 9,180
Holding and other
investment companies,
except bank holding
companies 15,446 482,929
Services 134,739 1,328,700
Hotels and other lodging
places * 11,968 * 144,531
Personal services -- * 13,274
Business services 108,072 1,038,858
Auto repair;
miscellaneous repair
services * 4 * 1,060
Amusement and recreation
services * 4,010 79,132
All other services 10,684 51,845
* Data should be used with caution because of the small number of
returns on which they were based.
(1) Interest-Charge Domestic International Sales Corporation
(IC-DISC) and Domestic International Sales Corporation (DISC).
(2) In addition to the credits shown in columns 12-14, this is after
reduction by other credits, such as the jobs credit and the
investment credit, which are not shown separately in this table.
(3) Included in gross income (less loss), columns 16-22. See notes
below.
(4) Included in deductions, columns 26-35. See notes below.
(5) Less than $500.
NOTES: Columns 2 through 15 present statistics on assets, receipts,
income, and taxes reported on Form 1120 (Corporation Income Tax Return)
series for corporations claiming a foreign tax credit. Columns 16
through 52 present statistics from Form 1118, Foreign Tax
Credit-Corporations. Schedule references indicate the schedule of
Form 1118 from which the date were obtained. Columns 16 through 36
present statistics on foreign income (i.e., income from sources
outside the United States) and deductions reported primarily on
Schedule A, Form 1118. Although the amounts of oil and gas income and
deductions (columns 23 and 36, respectively) are contained in the
summary columns (i.e., columns 18 through 22 and 28 through 35), these
amounts are also reported separately (on Schedule I) because oil and
gas income is subject to special rules under Internal Revenue Code
section 907, which may result in a reduction of foreign taxes
available for credit. Code section 863(b) income (income partly
within and partly without the United States) and foreign branch
income are also included in the summary amounts reported in columns
16 through 22 and are also reported separately (on Schedule F) in
columns 24 and 25. Total deductions not allocable to specific types of
income (column 32) are equal to the sum of columns 33 through 35 (any
differences are due to taxpayer reporting practices). Total
foreign-source gross income (column 16) less total foreign deductions
(column 26) is equal to foreign-source taxable income before
adjustments (column 37).
Adjustments to foreign-source taxable income (reported in column 38)
include allocations of current-year U.S.-source losses and recapture
of foreign losses, as well as other adjustments. These adjustments
(reported on Schedule J) affect the numerator of the limitation
fraction used to compute the foreign tax credit. The foreign-source
taxable income alter adjustments (the numerator of the limitation
fraction) is reported in column 39. The limitation fraction, which
represents the ratio of foreign-source taxable income alter adjustments
to total (U.S. and foreign) taxable income after adjustments, is
applied to the total U.S. tax against which the credit is allowed to
determine any limitation on the foreign tax credit.
Statistics on foreign taxes are reported in columns 40 through 52.
Date on foreign taxes paid, accrued, and deemed paid (through related
foreign corporations or their subsidiaries) from Schedule B, Form
1118, are reported in columns 43 through 52. Total foreign taxes paid
or accrued (column 44) are the sum of columns 45 through 51 (any
differences are due to taxpayer reporting practices). Total foreign
taxes paid, accrued, and deemed paid (column 43) are equal to the sum
of total taxes paid or accrued (column 44) and taxes deemed paid
(column 52). Total foreign taxes paid, accrued, and deemed paid are
then adjusted for certain items (e.g., reductions of foreign taxes
under Code section 907 related to oil and gas income), which are
reported in column 41, as well as carryovers of foreign taxes not
credited in prior years, which are reported in column 42. Thus,
total foreign texas available for credit (column 40) are equal to
total foreign taxes paid, accrued, and deemed paid (column 43)
less certain foreign texas (column 41), plus any carryover of
prior-year foreign texas (column 42).
Table 2.--U.S. Corporation Returns with a Foreign Tax Credit: Foreign
Income and Tax Reported on Form 1118, by Industrial Division and
Income Type
[All figures are estimates based on samples--money amounts are in
thousands of dollars]
Foreign
income and
taxes
reported on
Form 1118
Gross
income
(less loss)
Number
Industrial division and income type of re- Total
turns
(1) (2)
ALL INDUSTRIES
All income types 6,569 359,898,600
Passive income 2,471 7,771,190
High withholding tax interest 375 1,956,124
Financial services income 429 105,293,627
Shipping income 58 12,178,158
Dividends from noncontrolled section
902 corp 676 4,303,132
Dividends from an IC-DISC or former
DISC (1) 5 * 1,029
Miscellaneous separately calculated
limitation 28 595,700
Certain distributions from a FSC or
former FSC (2) 84 3,268,813
General limitation income 3,974 224,530,827
AGRICULTURE, FORESTRY, AND FISHING
All income types 134 238,033
Passive income 76 * 7,705
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp 53 * 3,346
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 11 213,244
MINING
All income types 133 8,292,326
Passive income 34 76,275
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp 6 * 20,693
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 117 8,151,080
CONSTRUCTION
All income types 183 449,484
Passive income 40 14,025
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp 29 * 10,789
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 123 381,977
MANUFACTURING
All income types 1,763 188,632,881
Passive income 636 6,135,387
High withholding tax interest 88 198,554
Financial services income 74 6,383,961
Shipping income 27 592,555
Dividends from noncontrolled section
902 corp 235 1,705,839
Dividends from an IC-DISC or former
DISC (1) 5 * 1,029
Miscellaneous separately calculated
limitation 20 73,114
Certain distributions from a FSC or
former FSC (2) 59 2,911,583
General limitation income 1,459 170,630,859
TRANSPORTATION AND PUBLIC UTILITIES
All income types 159 22,221,685
Passive income 73 175,218
High withholding tax interest 15 18,281
Financial services income ** **
Shipping income 20 11,489,126
Dividends from noncontrolled section
902 corp 18 826,456
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 109 9,202,669
WHOLESALE AND RETAIL TRADE
All income types 1,193 13,921,240
Passive income 598 491,426
High withholding tax interest 61 122,391
Financial services income 91 * 2,187,197
Shipping income ** **
Dividends from noncontrolled section
902 corp 49 51,991
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 507 11,010,755
FINANCE, INSURANCE, AND REAL ESTATE
All income types 1,676 102,621,003
Passive income 833 593,561
High withholding tax interest 128 1,544,689
Financial services income 197 96,455,210
Shipping income ** **
Dividends from noncontrolled section
902 corp 170 894,591
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) 9 * 122,936
General limitation income 567 2,998,106
SERVICES
All income types 1,329 23,521,948
Passive income 182 277,594
High withholding tax interest 74 28,666
Financial services income 57 209,953
Shipping income 5 * 82,051
Dividends from noncontrolled section
902 corp 117 789,428
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation 3 * 17,699
Certain distributions from a FSC or
former FSC (2) 11 * 174,421
General limitation income 1,082 21,942,137
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Foreign
dividend
income
resulting
from
Industrial division and income type Dividends foreign
taxes
deemed
paid
(gross-up)
(3) (4)
ALL INDUSTRIES
All income types 68,480,746 29,020,456
Passive income 4,066,867 544,062
High withholding tax interest 54,709 30,281
Financial services income 9,486,835 2,947,844
Shipping income 325,879 58,023
Dividends from noncontrolled section
902 corp 2,780,784 1,286,523
Dividends from an IC-DISC or former
DISC (1) * 1,029 --
Miscellaneous separately calculated
limitation 81,800 * 18,114
Certain distributions from a FSC or
former FSC (2) 3,268,712 * 102
General limitation income 48,414,131 24,135,507
AGRICULTURE, FORESTRY, AND FISHING
All income types 54,572 * 21,774
Passive income * 2,043 * 465
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 3,082 * 263
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 35,709 * 21,047
MINING
All income types 769,336 279,548
Passive income 19,906 * 765
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp * 19,700 * 993
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 726,680 275,973
CONSTRUCTION
All income types 85,149 * 16,088
Passive income 4,974 * 221
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 6,854 * 3,595
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 30,765 * 12,272
MANUFACTURING
All income types 52,156,799 23,031,191
Passive income 3,468,764 465,443
High withholding tax interest * 1,904 * 569
Financial services income 1,561,353 966,332
Shipping income 135,806 * 8,174
Dividends from noncontrolled section
902 corp 1,094,929 490,053
Dividends from an IC-DISC or former
DISC (1) * 1,029 --
Miscellaneous separately calculated
limitation * 41,573 * 5,715
Certain distributions from a FSC or
former FSC (2) 2,911,481 * 102
General limitation income 42,939,961 21,094,803
TRANSPORTATION AND PUBLIC UTILITIES
All income types 1,606,457 585,276
Passive income 92,212 7,115
High withholding tax interest -- --
Financial services income ** **
Shipping income 178,167 * 49,627
Dividends from noncontrolled section
902 corp 549,236 266,052
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 781,178 262,482
WHOLESALE AND RETAIL TRADE
All income types 1,997,340 1,121,448
Passive income 128,725 15,911
High withholding tax interest * 8,926 * 3,421
Financial services income * 133,190 * 55,235
Shipping income ** **
Dividends from noncontrolled section
902 corp 39,423 12,554
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 1,642,248 1,021,838
FINANCE, INSURANCE, AND REAL ESTATE
All income types 9,539,627 2,636,478
Passive income 306,763 48,071
High withholding tax interest 41,008 * 24,474
Financial services income 7,770,290 1,921,146
Shipping income ** **
Dividends from noncontrolled section
902 corp 561,250 243,327
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) * 122,936 --
General limitation income 729,418 399,329
SERVICES
All income types 2,271,466 1,328,651
Passive income 43,482 6,071
High withholding tax interest * 692 --
Financial services income * 16,403 * 5,130
Shipping income * 1,621 --
Dividends from noncontrolled section
902 corp 506,310 269,686
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 365 * (3)
Certain distributions from a FSC or
former FSC (2) * 174,421 --
General limitation income 1,528,172 1,047,764
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Rents,
royalties,
Industrial division and income type Interest and
license
fees
(5) (6)
ALL INDUSTRIES
All income types 61,505,751 48,610,292
Passive income 2,374,840 365,338
High withholding tax interest 1,870,093 --
Financial services income 50,393,059 2,637,891
Shipping income 55,040 505,464
Dividends from noncontrolled section
902 corp 23,101 6,440
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 25,023 * 32
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 6,764,595 45,095,127
AGRICULTURE, FORESTRY, AND FISHING
All income types * 19,744 * 14,007
Passive income * 5,241 --
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 14,503 * 14,007
MINING
All income types 221,170 310,547
Passive income 27,737 * 9,311
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 154,024 301,236
CONSTRUCTION
All income types * 9,344 23,555
Passive income * 7,538 * 1,248
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 1,669 * 22,307
MANUFACTURING
All income types 8,366,129 33,953,415
Passive income 1,821,678 220,793
High withholding tax interest 196,082 --
Financial services income 963,743 * 733,193
Shipping income * 29,934 * 323,831
Dividends from noncontrolled section
902 corp 5,127 6,419
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 24,904 * 32
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 5,324,661 32,669,147
TRANSPORTATION AND PUBLIC UTILITIES
All income types 320,490 426,902
Passive income 58,319 * 12,004
High withholding tax interest 18,281 --
Financial services income ** **
Shipping income * 17,095 * 124,433
Dividends from noncontrolled section
902 corp * 5,755 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 221,041 251,149
WHOLESALE AND RETAIL TRADE
All income types 2,054,128 1,450,456
Passive income 133,748 97,553
High withholding tax interest 110,043 --
Financial services income * 1,515,395 * 10,084
Shipping income ** **
Dividends from noncontrolled section
902 corp * 3 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 294,818 1,342,818
FINANCE, INSURANCE, AND REAL ESTATE
All income types 49,935,328 1,923,139
Passive income 191,537 * 1,642
High withholding tax interest 1,478,166 --
Financial services income 47,850,987 1,838,877
Shipping income ** **
Dividends from noncontrolled section
902 corp * 1,265 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 408,229 82,620
SERVICES
All income types 579,418 10,508,272
Passive income 129,041 22,788
High withholding tax interest 27,974 --
Financial services income * 62,934 * 16,420
Shipping income * 2,807 * 57,200
Dividends from noncontrolled section
902 corp * 10,950 * 21
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 60 --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 345,652 10,411,842
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Service Other
Industrial division and income type income income
(7) (8)
ALL INDUSTRIES
All income types 31,387,624 120,893,731
Passive income 18,093 401,990
High withholding tax interest -- * 1,041
Financial services income 9,779,560 30,048,438
Shipping income 6,933,462 4,300,288
Dividends from noncontrolled section
902 corp * 235 206,051
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- * 470,731
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 14,656,274 85,465,192
AGRICULTURE, FORESTRY, AND FISHING
All income types -- 127,936
Passive income -- * -44
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 2
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- * 127,978
MINING
All income types 3,073,644 3,638,080
Passive income * 6,732 * 11,824
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 3,066,912 3,626,256
CONSTRUCTION
All income types 195,865 119,483
Passive income -- * 45
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 339
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 195,865 119,099
MANUFACTURING
All income types 3,733,558 67,391,789
Passive income * 1,097 157,612
High withholding tax interest -- --
Financial services income * 3,578 2,155,762
Shipping income * 9,895 84,915
Dividends from noncontrolled section
902 corp * 36 109,274
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- * 891
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 3,718,953 64,883,334
TRANSPORTATION AND PUBLIC UTILITIES
All income types 9,220,380 10,062,180
Passive income * 1,424 * 4,143
High withholding tax interest -- --
Financial services income ** **
Shipping income 6,923,568 * 4,196,236
Dividends from noncontrolled section
902 corp -- * 5,414
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 2,282,998 5,403,820
WHOLESALE AND RETAIL TRADE
All income types 414,872 6,882,996
Passive income * 87 115,403
High withholding tax interest -- --
Financial services income -- * 473,292
Shipping income ** **
Dividends from noncontrolled section
902 corp -- * 10
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 414,786 6,294,248
FINANCE, INSURANCE, AND REAL ESTATE
All income types 9,976,238 28,610,193
Passive income * 4,507 41,042
High withholding tax interest -- * 1,041
Financial services income 9,762,719 27,311,191
Shipping income ** **
Dividends from noncontrolled section
902 corp * 199 88,550
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 208,814 1,169,698
SERVICES
All income types 4,773,067 4,061,074
Passive income * 4,246 71,965
High withholding tax interest -- --
Financial services income * 874 * 108,192
Shipping income -- * 20,423
Dividends from noncontrolled section
902 corp -- * 2,461
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- * 17,274
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 4,767,947 3,840,759
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Oil and
gas
extraction Foreign
Industrial division and income type income branch
(less income (4)
loss) (4)
(9) (10)
ALL INDUSTRIES
All income types 21,013,968 88,607,770
Passive income -- 187,088
High withholding tax interest -- * 359,043
Financial services income -- 46,970,762
Shipping income -- * 3,638,420
Dividends from noncontrolled section
902 corp -- * 2,471
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 21,013,968 37,449,987
AGRICULTURE, FORESTRY, AND FISHING
All income types -- * 673
Passive income -- --
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- * 673
MINING
All income types 2,037,440 3,126,813
Passive income -- * 2,022
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 2,037,440 3,124,791
CONSTRUCTION
All income types -- * 83,784
Passive income -- --
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- * 83,784
MANUFACTURING
All income types 18,743,589 27,638,925
Passive income -- 182,711
High withholding tax interest -- * 410
Financial services income -- * 505,418
Shipping income -- * 34,629
Dividends from noncontrolled section
902 corp -- * 1,219
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 18,743,589 26,914,538
TRANSPORTATION AND PUBLIC UTILITIES
All income types * 41,616 4,476,116
Passive income -- * 9
High withholding tax interest -- * 21
Financial services income ** **
Shipping income -- * 3,603,791
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 41,616 869,527
WHOLESALE AND RETAIL TRADE
All income types * 21,791 2,983,585
Passive income -- * 626
High withholding tax interest -- * 10
Financial services income -- * 274,325
Shipping income ** **
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 21,791 2,708,624
FINANCE, INSURANCE, AND REAL ESTATE
All income types 169,532 46,773,056
Passive income -- * 26
High withholding tax interest -- * 358,309
Financial services income -- 46,188,249
Shipping income ** **
Dividends from noncontrolled section
902 corp -- * 1,252
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 169,532 225,221
SERVICES
All income types -- 3,524,818
Passive income -- * 1,695
High withholding tax interest -- * 293
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income -- 3,522,830
Foreign income and taxes
reported on Form 1118
Gross
income Deductions
(less loss)
Speci-
fically
allocable
Industrial division and income type income Total
[section
863(b)] (4)
(11) (12)
ALL INDUSTRIES
All income types 24,971,121 201,909,309
Passive income 16,983 2,255,063
High withholding tax interest * 135,978 906,179
Financial services income 2,825,988 72,903,477
Shipping income * 2,104,614 10,414,571
Dividends from noncontrolled section
902 corp * 9,576 770,800
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- 44,960
Certain distributions from a FSC or
former FSC (2) -- 3,160,787
General limitation income 19,877,982 111,453,471
AGRICULTURE, FORESTRY, AND FISHING
All income types * 92,236 * 98,061
Passive income -- * 3,598
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 1,086
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 92,236 * 79,640
MINING
All income types * 378,536 5,133,029
Passive income * 10,937 24,236
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 7,305
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income * 366,463 5,098,389
CONSTRUCTION
All income types * 40,924 294,026
Passive income -- * 1,880
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 461
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 40,924 249,103
MANUFACTURING
All income types 17,567,896 85,811,444
Passive income * 3,178 1,752,167
High withholding tax interest -- 45,303
Financial services income -- 3,423,787
Shipping income -- 504,692
Dividends from noncontrolled section
902 corp * 458 470,660
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- 15,565
Certain distributions from a FSC or
former FSC (2) -- 2,853,457
General limitation income 17,564,260 76,745,814
TRANSPORTATION AND PUBLIC UTILITIES
All income types 2,615,529 16,849,056
Passive income * 18 61,163
High withholding tax interest -- 9,747
Financial services income ** **
Shipping income 2,104,614 9,794,483
Dividends from noncontrolled section
902 corp -- 94,928
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 506,995 6,806,748
WHOLESALE AND RETAIL TRADE
All income types 196,739 8,143,471
Passive income * 13 231,366
High withholding tax interest * 2,218 29,872
Financial services income -- 1,371,162
Shipping income ** **
Dividends from noncontrolled section
902 corp -- 17,249
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 194,508 6,486,254
FINANCE, INSURANCE, AND REAL ESTATE
All income types 3,040,235 70,715,971
Passive income * 2,582 71,728
High withholding tax interest * 132,624 808,082
Financial services income 2,822,086 67,898,438
Shipping income ** **
Dividends from noncontrolled section
902 corp * 9,049 151,092
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- * 72,776
General limitation income * 73,893 1,707,619
SERVICES
All income types 1,039,026 14,864,252
Passive income * 254 108,925
High withholding tax interest -- 12,453
Financial services income -- 154,633
Shipping income -- * 105,580
Dividends from noncontrolled section
902 corp * 69 28,020
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- * 55
Certain distributions from a FSC or
former FSC (2) -- * 174,681
General limitation income 1,038,703 14,279,905
Foreign income and taxes
reported on Form 1118
Deductions
Deductions allocable to
specific types of income
Rental,
royalty,
and
licensing
expenses
Depre-
ciation,
deple-
Industrial division and income type Total tion,
and
amorti-
zation
(13) (14)
ALL INDUSTRIES
All income types 107,480,799 1,257,812
Passive income 759,775 5,752
High withholding tax interest 82,995 * 4
Financial services income 25,566,714 561,435
Shipping income 9,707,115 * 155,955
Dividends from noncontrolled section
902 corp 88,682 * 620
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 28,723 --
Certain distributions from a FSC or
former FSC (2) 3,149,741 * 7,367
General limitation income 68,097,054 526,679
AGRICULTURE, FORESTRY, AND FISHING
All income types * 59,042 --
Passive income -- --
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 45,304 --
MINING
All income types 4,199,314 117,568
Passive income 13,830 * 3,344
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 4,185,255 114,224
CONSTRUCTION
All income types 228,015 * 349
Passive income * 184 * 141
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 105 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 185,171 * 208
MANUFACTURING
All income types 48,178,233 298,396
Passive income 629,523 * 1,049
High withholding tax interest 12,029 --
Financial services income 1,946,883 * 4,486
Shipping income 403,850 * 84,878
Dividends from noncontrolled section
902 corp 30,263 * 620
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 4,728 --
Certain distributions from a FSC or
former FSC (2) 2,853,381 --
General limitation income 42,297,578 207,362
TRANSPORTATION AND PUBLIC UTILITIES
All income types 14,832,180 33,657
Passive income 24,919 --
High withholding tax interest * 373 --
Financial services income ** **
Shipping income 9,203,762 * 8,817
Dividends from noncontrolled section
902 corp * 26,312 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 5,500,531 4,801
WHOLESALE AND RETAIL TRADE
All income types 5,880,777 8,652
Passive income 45,419 * 63
High withholding tax interest * 9,078 --
Financial services income * 564,538 --
Shipping income ** **
Dividends from noncontrolled section
902 corp * 218 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 5,258,794 8,589
FINANCE, INSURANCE, AND REAL ESTATE
All income types 24,358,750 551,075
Passive income 32,950 * 150
High withholding tax interest 61,108 * 4
Financial services income 22,968,615 536,909
Shipping income ** **
Dividends from noncontrolled section
902 corp 25,985 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) * 62,066 * 7,367
General limitation income 1,199,792 6,644
SERVICES
All income types 9,744,488 248,114
Passive income 12,951 * 1,005
High withholding tax interest * 392 --
Financial services income * 35,083 --
Shipping income * 91,182 * 62,259
Dividends from noncontrolled section
902 corp * 5,800 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 31 --
Certain distributions from a FSC or
former FSC (2) * 174,421 --
General limitation income 9,424,628 184,850
Foreign income and taxes
reported on Form 1118
Deductions
Deductions allocable to
specific types of income
Rental,
royalty,
and
licensing
expenses
Service
Industrial division and income type Other expenses
(15) (16)
ALL INDUSTRIES
All income types 7,358,799 13,663,474
Passive income 55,715 10,830
High withholding tax interest * 5,840 * 609
Financial services income 1,826,735 740,505
Shipping income * 35,384 * 3,816,460
Dividends from noncontrolled section
902 corp * 7,155 * 11,855
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 5,427,970 9,083,216
AGRICULTURE, FORESTRY, AND FISHING
All income types * 521 --
Passive income -- --
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 521 --
MINING
All income types 66,502 1,266,808
Passive income * 1,151 --
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 65,352 1,266,794
CONSTRUCTION
All income types * 1,281 131,860
Passive income -- --
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 1,281 131,860
MANUFACTURING
All income types 3,113,488 2,125,735
Passive income 15,640 * 7,374
High withholding tax interest -- --
Financial services income * 303,956 --
Shipping income * 35,300 * 9,389
Dividends from noncontrolled section
902 corp * 1,779 * 1,138
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 2,756,813 2,107,835
TRANSPORTATION AND PUBLIC UTILITIES
All income types * 60,222 5,797,057
Passive income (3) * 238
High withholding tax interest -- --
Financial services income ** **
Shipping income * 84 * 3,807,071
Dividends from noncontrolled section
902 corp -- * 743
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 60,138 1,976,082
WHOLESALE AND RETAIL TRADE
All income types 315,244 159,090
Passive income * 24,465 * 82
High withholding tax interest * 40 --
Financial services income -- --
Shipping income ** **
Dividends from noncontrolled section
902 corp (3) --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 290,738 159,008
FINANCE, INSURANCE, AND REAL ESTATE
All income types 1,551,966 1,008,729
Passive income 11,279 * 281
High withholding tax interest * 5,800 * 203
Financial services income 1,495,140 726,886
Shipping income ** **
Dividends from noncontrolled section
902 corp * -5 * 9,974
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 39,752 271,385
SERVICES
All income types 2,249,574 3,174,195
Passive income * 3,180 * 2,856
High withholding tax interest -- * 392
Financial services income * 27,640 * 696
Shipping income -- --
Dividends from noncontrolled section
902 corp * 5,381 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 2,213,374 3,170,251
Foreign income and taxes
reported on Form 1118
Deductions
Deductions
not allo-
cable to
specific
types of
income
Other
deductions
allocable
Industrial division and income type to specific Total
types of
income
(17) (18)
ALL INDUSTRIES
All income types 85,200,714 94,428,510
Passive income 687,478 1,495,288
High withholding tax interest 76,541 823,185
Financial services income 22,438,039 47,336,763
Shipping income 5,699,316 707,456
Dividends from noncontrolled section
902 corp 69,053 682,118
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 28,723 16,236
Certain distributions from a FSC or
former FSC (2) 3,142,374 * 11,046
General limitation income 53,059,189 43,356,417
AGRICULTURE, FORESTRY, AND FISHING
All income types * 58,521 * 39,019
Passive income -- * 3,598
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 1,086
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 44,783 * 34,336
MINING
All income types 2,748,435 933,715
Passive income * 9,335 10,407
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 7,305
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 2,738,886 913,134
CONSTRUCTION
All income types 94,524 66,011
Passive income * 43 * 1,696
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 105 * 356
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 51,822 63,931
MANUFACTURING
All income types 42,640,613 37,633,211
Passive income 605,460 1,122,644
High withholding tax interest 12,029 33,274
Financial services income 1,638,440 1,476,905
Shipping income 274,284 100,841
Dividends from noncontrolled section
902 corp 26,726 440,397
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 4,728 * 10,838
Certain distributions from a FSC or
former FSC (2) 2,853,381 * 76
General limitation income 37,225,567 34,448,236
TRANSPORTATION AND PUBLIC UTILITIES
All income types 8,941,243 2,016,875
Passive income 24,682 36,244
High withholding tax interest * 373 * 9,374
Financial services income ** **
Shipping income * 5,387,789 590,721
Dividends from noncontrolled section
902 corp * 25,569 68,616
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 3,459,510 1,306,217
WHOLESALE AND RETAIL TRADE
All income types 5,397,790 2,262,694
Passive income 20,809 185,947
High withholding tax interest * 9,038 20,794
Financial services income * 564,538 * 806,624
Shipping income ** **
Dividends from noncontrolled section
902 corp * 218 17,031
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 4,800,458 1,227,460
FINANCE, INSURANCE, AND REAL ESTATE
All income types 21,246,980 46,357,221
Passive income 21,240 38,778
High withholding tax interest 55,101 744,974
Financial services income 20,209,680 44,929,823
Shipping income ** **
Dividends from noncontrolled section
902 corp 16,016 125,107
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) * 54,699 * 10,710
General limitation income 882,011 507,826
SERVICES
All income types 4,072,605 5,119,764
Passive income 5,910 95,974
High withholding tax interest (3) 12,061
Financial services income * 6,747 * 119,550
Shipping income * 28,923 * 14,397
Dividends from noncontrolled section
902 corp * 419 22,220
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 31 * 25
Certain distributions from a FSC or
former FSC (2) * 174,421 * 260
General limitation income 3,856,154 4,855,276
Foreign income and taxes
reported on Form 1118
Deductions
Deductions not
allocable to specific
types of income
Research
and
Industrial division and income type deve- Interest
lopment
(19) (20)
ALL INDUSTRIES
All income types 9,565,637 43,342,264
Passive income 121,376 922,728
High withholding tax interest 3,021 615,070
Financial services income 129,790 28,784,352
Shipping income * 13,478 212,589
Dividends from noncontrolled section
902 corp 21,132 551,970
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 1,156 * 4,275
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 9,275,684 12,251,279
AGRICULTURE, FORESTRY, AND FISHING
All income types * 20,993 * 8,934
Passive income * 166 * 3,252
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 299 * 725
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 20,529 * 4,956
MINING
All income types * 38,287 302,159
Passive income * 68 4,207
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 5,485
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income * 38,219 291,044
CONSTRUCTION
All income types * 1,015 * 9,348
Passive income -- * 560
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 324
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 1,015 * 8,443
MANUFACTURING
All income types 7,834,168 12,397,235
Passive income 118,708 696,692
High withholding tax interest 538 26,925
Financial services income 25,185 1,358,997
Shipping income * 4,896 85,240
Dividends from noncontrolled section
902 corp 19,593 361,015
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 294 * 1,403
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 7,664,954 9,866,963
TRANSPORTATION AND PUBLIC UTILITIES
All income types * 57,203 1,002,896
Passive income * 559 34,271
High withholding tax interest -- * 4,378
Financial services income ** **
Shipping income * 8,582 114,097
Dividends from noncontrolled section
902 corp * 4 65,781
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 47,714 779,768
WHOLESALE AND RETAIL TRADE
All income types 24,693 1,459,232
Passive income * 531 88,500
High withholding tax interest * 732 16,057
Financial services income -- * 804,470
Shipping income ** **
Dividends from noncontrolled section
902 corp * 12 13,016
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 22,814 534,673
FINANCE, INSURANCE, AND REAL ESTATE
All income types * 106,260 27,300,990
Passive income -- 14,379
High withholding tax interest * 1,751 554,583
Financial services income * 104,493 26,556,947
Shipping income ** **
Dividends from noncontrolled section
902 corp (3) 90,675
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income * 16 84,403
SERVICES
All income types 1,483,018 861,470
Passive income * 1,344 80,867
High withholding tax interest -- * 11,735
Financial services income * 28 * 60,716
Shipping income -- * 12,177
Dividends from noncontrolled section
902 corp * 1,224 14,949
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 1,480,423 681,027
Foreign income and
taxes reported
on Form 1118
Deductions
Deductions
not allo-
cable to
specific
types of
income
Deduc-
tions
from oil
and gas
Industrial division and income type Other extrac-
tion
income
(5)
(21) (22)
ALL INDUSTRIES
All income types 40,176,836 8,915,360
Passive income 396,393 --
High withholding tax interest 202,520 --
Financial services income 17,944,631 --
Shipping income 478,765 --
Dividends from noncontrolled section
902 corp 101,067 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 2,086 --
Certain distributions from a FSC or
former FSC (2) * 11,046 --
General limitation income 21,040,328 8,915,360
AGRICULTURE, FORESTRY, AND FISHING
All income types * 9,093 --
Passive income * 180 --
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 62 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 8,851 --
MINING
All income types 589,613 1,032,644
Passive income * 5,583 --
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp * 1,819 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 580,764 1,032,644
CONSTRUCTION
All income types * 34,612 --
Passive income * 1,118 --
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 32 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 33,455 --
MANUFACTURING
All income types 16,818,994 7,836,010
Passive income 301,145 --
High withholding tax interest 4,354 --
Financial services income 90,770 --
Shipping income 10,705 --
Dividends from noncontrolled section
902 corp 55,248 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 422 --
Certain distributions from a FSC or
former FSC (2) * 76 --
General limitation income 16,356,274 7,836,010
TRANSPORTATION AND PUBLIC UTILITIES
All income types 951,350 35,759
Passive income 1,413 --
High withholding tax interest * 4,996 --
Financial services income ** **
Shipping income * 465,418 --
Dividends from noncontrolled section
902 corp * 2,831 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 475,933 * 35,759
WHOLESALE AND RETAIL TRADE
All income types 719,208 * 10,947
Passive income 69,533 --
High withholding tax interest * 3,569 --
Financial services income * 2,154 --
Shipping income ** **
Dividends from noncontrolled section
902 corp 3,844 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 638,390 * 10,947
FINANCE, INSURANCE, AND REAL ESTATE
All income types 18,442,444 --
Passive income 8,062 --
High withholding tax interest 188,072 --
Financial services income 17,792,598 --
Shipping income ** **
Dividends from noncontrolled section
902 corp 32,015 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) * 10,710 --
General limitation income 410,986 --
SERVICES
All income types 2,611,521 --
Passive income 9,359 --
High withholding tax interest * 214 --
Financial services income * 58,554 --
Shipping income * 2,220 --
Dividends from noncontrolled section
902 corp 5,215 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 25 --
Certain distributions from a FSC or
former FSC (2) * 260 --
General limitation income 2,535,674 --
Foreign income and taxes
reported on Form 1118
Taxable Adjust-
income ments
Industrial division and income type (less loss) to
before taxable
adjustments income
(23) (24)
ALL INDUSTRIES
All income types 157,989,290 7,715,086
Passive income 5,516,127 272,876
High withholding tax interest 1,049,945 106,148
Financial services income 32,390,150 928,988
Shipping income 1,763,587 732,350
Dividends from noncontrolled section
902 corp 3,532,332 -138,004
Dividends from an IC-DISC or former
DISC (1) * 1,029 * -41
Miscellaneous separately calculated
limitation 550,740 41,888
Certain distributions from a FSC or
former FSC (2) 108,026 15,365
General limitation income 113,077,355 5,755,516
AGRICULTURE, FORESTRY, AND FISHING
All income types 139,972 * 4,133
Passive income * 4,107 * 1,129
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 2,260 * 252
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 133,604 * 2,752
MINING
All income types 3,159,297 288,600
Passive income 52,039 * 388
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp * 13,388 * -148
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 3,052,691 288,290
CONSTRUCTION
All income types 155,458 * 6,287
Passive income 12,145 --
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 10,328 * -200
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 132,874 * 6,487
MANUFACTURING
All income types 102,821,437 4,235,398
Passive income 4,383,220 244,344
High withholding tax interest 153,252 1,098
Financial services income 2,960,174 -172,838
Shipping income 87,863 -7,733
Dividends from noncontrolled section
902 corp 1,235,180 -164,380
Dividends from an IC-DISC or former
DISC (1) * 1,029 * -41
Miscellaneous separately calculated
limitation 57,549 -8,608
Certain distributions from a FSC or
former FSC (2) * 58,127 15,634
General limitation income 93,885,045 4,327,921
TRANSPORTATION AND PUBLIC UTILITIES
All income types 5,372,629 941,262
Passive income 114,055 -7,552
High withholding tax interest 8,534 * -1,120
Financial services income ** **
Shipping income 1,694,643 772,737
Dividends from noncontrolled section
902 corp 731,528 29,567
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 2,395,920 116,018
WHOLESALE AND RETAIL TRADE
All income types 5,777,769 910,079
Passive income 260,060 12,105
High withholding tax interest 92,519 * 58,974
Financial services income * 816,035 * 455,180
Shipping income ** **
Dividends from noncontrolled section
902 corp 34,741 -1,142
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 4,524,501 381,000
FINANCE, INSURANCE, AND REAL ESTATE
All income types 31,905,032 717,773
Passive income 521,833 7,506
High withholding tax interest 738,607 46,998
Financial services income 28,556,772 660,579
Shipping income ** **
Dividends from noncontrolled section
902 corp 743,499 -17,085
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) * 50,160 * 115
General limitation income 1,290,488 29,219
SERVICES
All income types 8,657,696 611,554
Passive income 168,669 14,055
High withholding tax interest 16,213 * 127
Financial services income 55,320 * 1,297
Shipping income * -23,529 * -23,529
Dividends from noncontrolled section
902 corp 761,408 15,132
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 17,643 * 2
Certain distributions from a FSC or
former FSC (2) * -260 * -260
General limitation income 7,662,232 603,829
Foreign income and taxes
reported on Form 1118
Foreign
taxes
available
for credit
Taxable
income
Industrial division and income type (less loss) Total
after
adjustments
(25) (26)
ALL INDUSTRIES
All income types 150,274,204 49,979,466
Passive income 5,243,251 791,754
High withholding tax interest 943,797 353,841
Financial services income 31,461,161 7,607,076
Shipping income 1,031,236 134,447
Dividends from noncontrolled section
902 corp 3,670,337 1,896,351
Dividends from an IC-DISC or former
DISC (1) * 1,070 --
Miscellaneous separately calculated
limitation 508,852 157,924
Certain distributions from a FSC or
former FSC (2) 92,661 * 112
General limitation income 107,321,839 39,037,960
AGRICULTURE, FORESTRY, AND FISHING
All income types 135,839 38,313
Passive income * 2,979 * 542
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 2,008 * 1,758
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 130,852 36,013
MINING
All income types 2,870,696 1,416,118
Passive income 51,650 * 4,655
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp * 13,536 * 3,826
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 2,764,401 1,400,421
CONSTRUCTION
All income types 149,171 63,431
Passive income 12,145 835
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 10,528 3,875
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 126,387 58,701
MANUFACTURING
All income types 98,586,039 35,792,177
Passive income 4,138,876 652,673
High withholding tax interest 152,154 35,805
Financial services income 3,133,012 1,326,286
Shipping income 95,595 23,223
Dividends from noncontrolled section
902 corp 1,399,560 950,359
Dividends from an IC-DISC or former
DISC (1) * 1,070 --
Miscellaneous separately calculated
limitation 66,157 7,917
Certain distributions from a FSC or
former FSC (2) 42,492 112
General limitation income 89,557,124 32,795,803
TRANSPORTATION AND PUBLIC UTILITIES
All income types 4,431,367 969,683
Passive income 121,607 11,210
High withholding tax interest 9,654 1,776
Financial services income ** **
Shipping income 921,906 110,993
Dividends from noncontrolled section
902 corp 701,961 273,381
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 2,279,903 443,210
WHOLESALE AND RETAIL TRADE
All income types 4,867,690 1,894,147
Passive income 247,955 37,293
High withholding tax interest 33,544 22,563
Financial services income * 360,855 * 118,903
Shipping income ** **
Dividends from noncontrolled section
902 corp 35,883 22,263
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 4,143,501 1,675,368
FINANCE, INSURANCE, AND REAL ESTATE
All income types 31,187,259 7,370,111
Passive income 514,326 72,828
High withholding tax interest 691,609 282,259
Financial services income 27,896,193 6,147,237
Shipping income ** **
Dividends from noncontrolled section
902 corp 760,584 351,081
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) * 50,045 (3)
General limitation income 1,261,269 516,566
SERVICES
All income types 8,046,142 2,435,487
Passive income 153,713 11,719
High withholding tax interest 16,086 4,202
Financial services income 54,023 12,672
Shipping income -- * 1
Dividends from noncontrolled section
902 corp 746,276 289,808
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 17,641 * 5,206
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 7,058,403 2,111,878
Foreign income and
taxes reported
on Form 1118
Foreign taxes
available for credit
Reduction
for
Industrial division and income type certain Carryover
foreign
taxes
(27) (28)
ALL INDUSTRIES
All income types 2,516,340 7,416,008
Passive income -- 38,315
High withholding tax interest -- 105,625
Financial services income -- 658,425
Shipping income -- 37,507
Dividends from noncontrolled section
902 corp -- 499,917
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation (3) * 3,730
Certain distributions from a FSC or
former FSC (2) -- * 10
General limitation income 2,516,340 6,072,479
AGRICULTURE, FORESTRY, AND FISHING
All income types -- * 3,837
Passive income -- * 36
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 1,421
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- * 2,379
MINING
All income types 444,333 562,043
Passive income -- * 705
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 9
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 444,333 558,578
CONSTRUCTION
All income types -- 15,329
Passive income -- 37
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- 41
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- 15,250
MANUFACTURING
All income types 2,059,580 5,450,727
Passive income -- 29,460
High withholding tax interest -- 6,129
Financial services income -- 116,124
Shipping income -- 11,127
Dividends from noncontrolled section
902 corp -- 378,785
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- 535
Certain distributions from a FSC or
former FSC (2) -- 10
General limitation income 2,059,580 4,908,557
TRANSPORTATION AND PUBLIC UTILITIES
All income types 122 97,772
Passive income -- 607
High withholding tax interest -- 138
Financial services income ** **
Shipping income -- 26,380
Dividends from noncontrolled section
902 corp -- 1,902
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 122 68,436
WHOLESALE AND RETAIL TRADE
All income types (3) 237,214
Passive income -- 1,851
High withholding tax interest -- * 427
Financial services income -- * 815
Shipping income ** **
Dividends from noncontrolled section
902 corp -- 7,746
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- 223,180
FINANCE, INSURANCE, AND REAL ESTATE
All income types * 12,176 809,000
Passive income -- 4,278
High withholding tax interest -- 95,646
Financial services income -- 540,662
Shipping income ** **
Dividends from noncontrolled section
902 corp -- 91,770
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income * 12,176 76,645
SERVICES
All income types * 129 240,087
Passive income -- * 1,341
High withholding tax interest -- * 535
Financial services income -- * 515
Shipping income -- * 1
Dividends from noncontrolled section
902 corp -- 18,241
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income * 129 219,454
Foreign income and taxes
reported on Form 1118
Foreign taxes
available for credit
Foreign taxes paid,
accrued, and deemed paid
Foreign
taxes paid
or accrued
Industrial division and income type Total Total
(29) (30)
ALL INDUSTRIES
All income types 45,079,798 16,056,942
Passive income 753,440 207,992
High withholding tax interest 248,216 217,934
Financial services income 6,948,651 4,000,803
Shipping income 96,940 38,917
Dividends from noncontrolled section
902 corp 1,396,434 109,911
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation 154,195 * 136,081
Certain distributions from a FSC or
former FSC (2) * 102 (3)
General limitation income 35,481,821 11,345,304
AGRICULTURE, FORESTRY, AND FISHING
All income types 34,476 12,702
Passive income * 506 * 41
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 337 * 74
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 33,634 * 12,587
MINING
All income types 1,298,408 1,018,859
Passive income 3,950 3,185
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp * 3,817 * 2,824
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 1,286,175 1,010,203
CONSTRUCTION
All income types 48,103 32,014
Passive income 798 577
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp 3,834 238
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 43,450 31,178
MANUFACTURING
All income types 32,401,030 9,367,486
Passive income 623,213 156,394
High withholding tax interest 29,676 29,107
Financial services income 1,210,162 243,829
Shipping income 12,096 3,922
Dividends from noncontrolled section
902 corp 571,573 81,520
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation 7,382 1,667
Certain distributions from a FSC or
former FSC (2) 102 --
General limitation income 29,946,825 8,851,045
TRANSPORTATION AND PUBLIC UTILITIES
All income types 872,033 286,757
Passive income 10,603 3,488
High withholding tax interest 1,638 1,638
Financial services income ** **
Shipping income 84,613 34,986
Dividends from noncontrolled section
902 corp 271,479 5,427
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 374,897 112,415
WHOLESALE AND RETAIL TRADE
All income types 1,656,933 535,490
Passive income 35,442 19,531
High withholding tax interest 22,136 18,715
Financial services income * 118,088 * 62,853
Shipping income ** **
Dividends from noncontrolled section
902 corp 14,517 1,963
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 1,452,189 430,356
FINANCE, INSURANCE, AND REAL ESTATE
All income types 6,573,288 3,936,806
Passive income 68,550 20,480
High withholding tax interest 186,613 162,140
Financial services income 5,606,575 3,685,426
Shipping income ** **
Dividends from noncontrolled section
902 corp 259,310 15,983
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) (3) (3)
General limitation income 452,098 52,769
SERVICES
All income types 2,195,529 866,829
Passive income 10,378 4,297
High withholding tax interest 3,667 3,667
Financial services income * 12,157 * 7,027
Shipping income -- --
Dividends from noncontrolled section
902 corp 271,567 1,881
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 5,206 * 5,206
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 1,892,553 844,750
Foreign income and
taxes reported on
Form 1118
Foreign taxes
available for credit
Foreign taxes
paid, accrued,
and deemed paid
Foreign taxes
paid or accrued
Taxes
withheld
at
source
on--
Taxes
withheld
Industrial division and income type at source Interest
on
dividends
(31) (32)
ALL INDUSTRIES
All income types 2,767,327 640,883
Passive income 93,869 24,133
High withholding tax interest 2,516 215,266
Financial services income 324,094 279,275
Shipping income * 2,079 * 244
Dividends from noncontrolled section
902 corp 75,997 * 27
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation 2,252 --
Certain distributions from a FSC or
former FSC (2) (3) --
General limitation income 2,266,519 121,939
AGRICULTURE, FORESTRY, AND FISHING
All income types 2,521 * 484
Passive income * 39 * 2
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 74 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 2,408 * 482
MINING
All income types 53,846 9,917
Passive income * 28 * 692
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp * 2,824 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 50,994 6,577
CONSTRUCTION
All income types 1,490 * 490
Passive income 21 * 355
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 211 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 1,258 * 115
MANUFACTURING
All income types 2,203,741 140,905
Passive income 78,191 18,226
High withholding tax interest * 134 28,973
Financial services income 27,931 * 1,705
Shipping income * 614 * 117
Dividends from noncontrolled section
902 corp 53,911 * 12
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 125 --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 2,042,834 91,873
TRANSPORTATION AND PUBLIC UTILITIES
All income types 22,552 7,467
Passive income 479 * 477
High withholding tax interest -- 1,638
Financial services income ** **
Shipping income * 1,457 * 127
Dividends from noncontrolled section
902 corp * 5,413 * 14
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 14,278 5,212
WHOLESALE AND RETAIL TRADE
All income types 90,146 31,323
Passive income 4,033 1,412
High withholding tax interest * 9 18,705
Financial services income * 18,381 * 3,837
Shipping income ** **
Dividends from noncontrolled section
902 corp 1,963 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 63,687 7,369
FINANCE, INSURANCE, AND REAL ESTATE
All income types 319,619 435,813
Passive income 10,023 2,395
High withholding tax interest * 1,909 160,078
Financial services income 276,689 271,045
Shipping income ** **
Dividends from noncontrolled section
902 corp 9,723 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) (3) --
General limitation income 21,267 2,295
SERVICES
All income types 73,412 14,485
Passive income 1,055 576
High withholding tax interest * 463 3,204
Financial services income * 168 * 2,688
Shipping income -- --
Dividends from noncontrolled section
902 corp 1,878 * 1
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 55 --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 69,793 8,016
Foreign income
and taxes reported
on Form 1118
Foreign taxes
available for credit
Foreign taxes
paid, accrued,
and deemed paid
Foreign taxes
paid or accrued
Taxes Other
withheld taxes
at paid or
source accrued
on-- on--
Rents,
royal-
ties, Branch
Industrial division and income type and income
license
fees
(33) (34)
ALL INDUSTRIES
All income types 2,238,232 6,063,443
Passive income 37,246 13,337
High withholding tax interest -- --
Financial services income 12,994 2,492,839
Shipping income * 2,291 * 14,239
Dividends from noncontrolled section
902 corp * 532 * 456
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 2,185,169 3,542,571
AGRICULTURE, FORESTRY, AND FISHING
All income types * 3,076 * 1,724
Passive income -- --
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 3,076 * 1,724
MINING
All income types 12,595 286,739
Passive income * 1,036 * 78
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 11,559 286,661
CONSTRUCTION
All income types 835 * 4,455
Passive income * 123 --
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 712 * 4,455
MANUFACTURING
All income types 1,580,966 2,945,132
Passive income 20,183 12,428
High withholding tax interest -- --
Financial services income * 3,067 * 22,011
Shipping income -- --
Dividends from noncontrolled section
902 corp * 530 * 456
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 1,557,185 2,910,237
TRANSPORTATION AND PUBLIC UTILITIES
All income types 21,541 36,575
Passive income -- --
High withholding tax interest -- --
Financial services income ** **
Shipping income * 2,291 * 14,239
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 19,251 21,723
WHOLESALE AND RETAIL TRADE
All income types 123,960 254,711
Passive income 13,920 * 25
High withholding tax interest -- --
Financial services income -- * 40,631
Shipping income ** **
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 110,041 214,055
FINANCE, INSURANCE, AND REAL ESTATE
All income types 15,362 2,435,572
Passive income * 260 * 329
High withholding tax interest -- --
Financial services income 9,785 2,429,584
Shipping income ** **
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 5,317 5,659
SERVICES
All income types 479,897 98,535
Passive income 1,724 * 478
High withholding tax interest -- --
Financial services income * 142 --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 2 --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 478,028 98,057
Foreign income
and taxes reported
on Form 1118
Foreign taxes
available for credit
Foreign taxes
paid, accrued,
and deemed paid
Foreign taxes
paid or accrued
Other taxes paid
or accrued on--
Speci-
fically
allo-
Industrial division and income type cable Service
income income
[section
863(b)]
(35) (36)
ALL INDUSTRIES
All income types 29,802 292,786
Passive income * 85 1,931
High withholding tax interest -- --
Financial services income * 40 75,259
Shipping income * 6,744 * 7,372
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 22,933 208,224
AGRICULTURE, FORESTRY, AND FISHING
All income types -- --
Passive income -- --
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- --
MINING
All income types -- * 12,908
Passive income -- --
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income -- * 12,908
CONSTRUCTION
All income types -- 22,826
Passive income -- --
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- 22,826
MANUFACTURING
All income types 15,116 83,972
Passive income * 85 * 24
High withholding tax interest -- --
Financial services income -- * 904
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 15,031 83,045
TRANSPORTATION AND PUBLIC UTILITIES
All income types * 6,887 22,252
Passive income -- * 1,765
High withholding tax interest -- --
Financial services income ** **
Shipping income * 6,744 * 7,372
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 143 12,985
WHOLESALE AND RETAIL TRADE
All income types -- 9,568
Passive income -- * 22
High withholding tax interest -- --
Financial services income -- --
Shipping income ** **
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income -- 9,546
FINANCE, INSURANCE, AND REAL ESTATE
All income types * 40 83,257
Passive income -- * 77
High withholding tax interest -- --
Financial services income * 40 74,168
Shipping income ** **
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income -- 9,012
SERVICES
All income types * 7,759 58,002
Passive income -- * 43
High withholding tax interest -- --
Financial services income -- * 57
Shipping income -- --
Dividends from noncontrolled section
902 corp -- --
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income * 7,759 57,902
Foreign income and taxes
reported on Form 1118
Foreign taxes
available for credit
Foreign taxes
paid, accrued, and
deemed paid
Foreign
taxes
paid or
accrued
Other
taxes
paid or
accrued
on--
Taxes
Industrial division and income type Other deemed
income paid
(37) (38)
ALL INDUSTRIES
All income types 4,024,468 29,022,856
Passive income 37,391 545,447
High withholding tax interest * 152 30,281
Financial services income 816,302 2,947,847
Shipping income * 5,948 58,023
Dividends from noncontrolled section
902 corp 32,899 1,286,523
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 133,829 * 18,114
Certain distributions from a FSC or
former FSC (2) -- * 102
General limitation income 2,997,948 24,136,517
AGRICULTURE, FORESTRY, AND FISHING
All income types * 4,897 21,774
Passive income -- 465
High withholding tax interest -- --
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 263
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 4,897 21,047
MINING
All income types 642,654 279,548
Passive income * 1,351 * 765
High withholding tax interest ** **
Financial services income ** **
Shipping income -- --
Dividends from noncontrolled section
902 corp -- * 993
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 641,503 275,973
CONSTRUCTION
All income types 1,918 * 16,088
Passive income * 78 * 221
High withholding tax interest ** **
Financial services income -- --
Shipping income -- --
Dividends from noncontrolled section
902 corp * 28 * 3,595
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation -- --
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income * 1,812 * 12,272
MANUFACTURING
All income types 2,397,654 23,033,544
Passive income 27,258 466,819
High withholding tax interest -- * 569
Financial services income * 188,212 966,332
Shipping income * 3,192 * 8,174
Dividends from noncontrolled section
902 corp 26,611 490,053
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 1,542 * 5,715
Certain distributions from a FSC or
former FSC (2) -- * 102
General limitation income 2,150,840 21,095,780
TRANSPORTATION AND PUBLIC UTILITIES
All income types 169,482 585,276
Passive income * 768 7,115
High withholding tax interest -- --
Financial services income ** **
Shipping income * 2,756 * 49,627
Dividends from noncontrolled section
902 corp -- 266,052
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 38,824 262,482
WHOLESALE AND RETAIL TRADE
All income types 25,781 1,121,443
Passive income * 119 15,911
High withholding tax interest -- * 3,421
Financial services income * 4 * 55,235
Shipping income ** **
Dividends from noncontrolled section
902 corp -- 12,554
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) ** **
General limitation income 25,658 1,021,833
FINANCE, INSURANCE, AND REAL ESTATE
All income types 647,142 2,636,482
Passive income 7,395 48,071
High withholding tax interest * 152 * 24,474
Financial services income 624,115 1,921,150
Shipping income ** **
Dividends from noncontrolled section
902 corp * 6,261 243,327
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation ** **
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 9,219 399,328
SERVICES
All income types 134,739 1,328,700
Passive income * 422 6,081
High withholding tax interest -- --
Financial services income * 3,971 * 5,130
Shipping income -- --
Dividends from noncontrolled section
902 corp -- 269,686
Dividends from an IC-DISC or former
DISC (1) -- --
Miscellaneous separately calculated
limitation * 5,152 (3)
Certain distributions from a FSC or
former FSC (2) -- --
General limitation income 125,194 1,047,804
* Data should be used with caution because of the small number
of returns on which the, were based.
** Not shown to avoid disclosure of information about specific
taxpayers. However, the data are included in the appropriate totals.
(1) Interest-Charge Domestic International Sales Corporation
(IC-DISC) and Domestic International Sales Corporation (DISC).
(2) Foreign Sales Corporation (FSC).
(3) Less than $500.
(4) Included in gross income (less loss), columns 2-8.
(5) Included in deductions, columns 12-21.
NOTE: Detail may not add to totals because of rounding.
Table 3.--U.S. Corporation Returns with a Foreign Tax Credit: Foreign
Income and Tax Reported on Form 1118, by Selected Country to Which
Foreign Tax Was Paid
[All figures are estimates based on samples--money amounts are in
thousands of dollars]
Foreign income and
taxes reported on
Form 1118
Gross income (less loss)
Number of
Selected country returns Total Dividends
(1) (2) (3)
All countries 6,569 359,898,600 68,480,746
Canada 2,021 27,612,506 6,957,260
Latin America, total 1,422 38,647,969 7,713,452
Mexico 948 8,609,287 1,524,863
Central America, total 300 1,416,661 306,098
Belize 41 40,118 * 3,008
Costa Rica 152 124,531 18,083
El Salvador 107 188,967 7,689
Guatemala 142 262,725 25,023
Honduras 105 77,093 * 5,878
Nicaragua 59 33,374 * 11
Panama 195 684,831 246,405
Caribbean countries, total 346 3,297,056 1,051,409
Cayman Islands (British) 186 1,721,166 879,227
Dominican Republic 119 299,310 61,966
Haiti 37 74,360 * 5,041
Jamaica 105 143,907 * 5,772
Trinidad and Tobago 107 683,366 29,183
Other Caribbean
countries 106 374,948 70,219
South America, total 869 20,250,271 4,831,082
Argentina 470 4,457,984 423,107
Bolivia 93 93,988 * 3,318
Brazil 523 8,641,685 3,114,325
Chile 323 2,249,046 740,818
Colombia 306 1,859,778 140,603
Ecuador 195 308,242 19,463
Paraguay 70 55,853 * 2,171
Peru 228 824,476 73,695
Uruguay 116 214,312 43,331
Venezuela 337 1,425,201 268,234
Other South America 47 119,705 * 2,016
Latin America not allocable 18 5,074,694 --
Other Western Hemisphere,
total 347 8,193,575 2,326,003
Bahamas 106 3,197,883 309,171
Bermuda 209 2,863,323 1,582,682
Netherlands Antilles 79 511,562 345,215
Other British West Indies 131 219,256 86,431
All other Western
Hemisphere 61 1,401,551 * 2,505
Europe, total 2,570 138,694,624 35,098,049
European Union, total 2,486 121,236,653 28,801,773
Austria 239 906,511 264,758
Belgium 371 5,937,525 1,504,825
Denmark 250 997,811 116,851
Finland 220 724,270 92,424
France 604 8,527,013 1,998,102
Germany 662 15,030,010 3,666,345
Greece 182 840,785 40,748
Ireland 247 4,361,949 895,847
Italy 534 6,114,891 1,408,794
Luxembourg 82 721,433 363,301
Netherlands 826 12,338,820 4,970,694
Portugal 193 539,247 173,616
Spain 542 3,219,432 909,143
Sweden 386 1,998,485 584,443
United Kingdom 1,691 58,929,455 11,811,300
European Union, not
allocable 4 * 49,015 * 382
Other West European
countries, total 515 12,340,246 5,891,495
Liechtenstein 15 10,995 * 9,600
Monaco 14 17,007 * 83
Norway 223 3,133,427 529,257
Switzerland 394 8,203,643 5,256,597
Turkey 197 899,802 92,341
Other West European
countries 69 37,160 * 3,618
West European countries
not allocable 4 * 38,211 --
East European countries,
total 341 2,917,101 404,531
Romania 57 76,978 * 12,558
Former Soviet Union 217 1,586,555 238,739
Other East Europe 264 1,253,568 153,233
Europe not allocable 29 2,200,624 * 251
Africa, total 504 5,858,919 930,572
North Africa, total 166 1,487,901 72,707
Algeria 32 142,092 * 1,356
Egypt 126 1,242,948 60,934
Libya 5 * 684 --
Morocco 58 50,259 * 5,329
Other North Africa 50 51,918 * 5,088
East Africa, total 129 214,269 26,594
Ethiopia 22 37,990 * 5
Kenya 73 55,810 7,557
Tanzania 23 32,715 * 3,048
Uganda 17 2,422 --
Other East Africa 81 85,332 15,984
West and Central Africa,
total 176 3,237,100 696,861
Gabon 45 149,883 * 76,933
Ghana 35 108,778 * 15,617
Liberia 43 241,396 157,694
Nigeria 78 1,864,320 391,881
Zaire 15 69,523 * 2,946
Other West and Central
Africa 89 803,200 * 51,790
Southern Africa, total 364 919,237 134,409
Malawi 9 * 2,121 * 952
Zimbabwe 53 35,406 15,803
South Africa (including
Namibia) 351 828,446 113,930
Zambia 26 7,635 * 3,100
Other Southern Africa 24 45,629 * 624
Africa not allocable 7 * 412 --
Asia, total 1,988 76,430,221 8,037,560
Middle East, total 478 4,800,957 357,376
Bahrain 64 280,804 * 1,045
Iran 13 8,187 * 1,314
Iraq 5 * 1,008 --
Israel 347 640,765 106,355
Kuwait 79 147,254 * 884
Lebanon 56 68,221 * 875
Qatar 60 201,389 --
Saudi Arabia 158 1,942,925 80,090
United Arab Emirates 120 652,179 57,302
Other areas of the
Arabian Peninsula 59 685,416 * 100,035
Other Middle East 97 172,811 9,475
Southern and Southeast
Asia, total 859 19,939,786 2,872,321
Bangladesh 34 60,988 --
India 356 1,263,336 51,614
Indonesia 289 5,562,349 551,313
Malaysia 328 2,207,948 281,664
Pakistan 97 400,595 8,667
Philippines 289 1,786,443 261,941
Singapore 463 6,219,800 1,163,645
Sri Lanka 43 32,692 * 1,561
Thailand 312 2,199,920 545,846
Vietnam 59 30,431 --
Other Southern and
Southeast Asia 79 175,285 * 6,071
Eastern Asia, total 1,604 48,627,764 4,807,810
China 365 1,939,917 105,042
Hong Kong 539 8,403,379 1,163,343
Japan 1,246 30,105,885 2,882,885
South Korea 417 3,741,513 277,319
Taiwan 408 3,826,384 379,220
Other Eastern Asia 29 610,685 --
Asia not allocable 26 3,061,713 * 53
Oceania, total 812 11,348,972 2,305,933
Australia 748 9,291,969 1,629,277
New Zealand 327 1,514,937 583,627
Other Oceania 68 542,065 93,029
Puerto Rico and U.S.
Possessions, total 513 4,389,004 473,020
Puerto Rico 446 3,737,089 448,196
U.S. Possessions, total 175 651,915 24,824
American Samoa 21 11,017 --
Guam 132 332,340 * 9,511
Virgin Islands 81 290,565 * 6,766
Other U.S. Possessions 19 17,992 * 8,546
Country not stated 2,641 45,452,969 1,369,157
Foreign Sales Corporation
dividends (2) 81 3,268,813 3,268,712
Interest-Charge Domestic
International Sales
Corporation dividends (2) 3 * 1,029 * 1,029
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Foreign
dividend
income Rents,
resulting royalties,
Selected country from Interest and
foreign license
taxes fees
deemed paid
(gross-up)
(4) (5) (6)
All countries 29,020,456 61,505,751 48,610,292
Canada 4,788,555 4,364,665 2,996,418
Latin America, total 2,160,036 10,039,766 3,515,659
Mexico 687,938 1,484,816 1,192,777
Central America, total 48,762 261,021 147,513
Belize * 64 * 586 * 26,331
Costa Rica 3,579 15,080 31,698
El Salvador * 2,965 43,331 14,150
Guatemala 8,462 38,511 19,486
Honduras * 3,795 5,962 5,248
Nicaragua * 5 4,538 1,088
Panama 29,892 153,014 49,513
Caribbean countries, total 112,234 694,369 135,529
Cayman Islands (British) 60,340 625,418 89,272
Dominican Republic 21,320 34,270 14,802
Haiti * 638 * 1,306 * 854
Jamaica * 4,892 14,161 18,618
Trinidad and Tobago * 6,574 13,468 6,615
Other Caribbean countries 18,470 5,746 5,368
South America, total 1,311,101 4,762,498 1,925,249
Argentina 195,085 1,694,589 432,424
Bolivia * 1,960 10,654 7,583
Brazil 908,341 1,896,461 973,054
Chile 40,601 553,376 114,178
Colombia 60,652 140,519 117,100
Ecuador 3,700 40,352 20,817
Paraguay * 716 * 6,039 7,508
Peru 29,047 172,633 46,964
Uruguay 6,521 78,959 14,951
Venezuela 62,798 168,762 189,583
Other South America * 1,680 * 154 * 1,108
Latin America not allocable -- * 2,837,062 * 114,590
Other Western Hemisphere,
total 181,696 1,937,062 70,374
Bahamas 13,101 1,074,725 5,938
Bermuda 113,162 757,135 29,872
Netherlands Antilles 33,526 69,810 8,387
Other British West Indies 20,307 30,150 21,876
All other Western
Hemisphere * 1,599 * 5,243 4,301
Europe, total 15,241,896 23,947,037 21,143,159
European Union, total 14,005,507 22,797,042 19,509,169
Austria 128,066 70,600 240,670
Belgium 706,151 717,541 787,061
Denmark 85,067 49,927 243,554
Finland 29,814 75,884 253,614
France 1,091,350 750,162 2,562,930
Germany 2,458,264 1,256,570 3,816,546
Greece 22,158 507,113 76,695
Ireland 109,915 198,496 2,533,007
Italy 1,073,049 1,061,272 1,162,699
Luxembourg 189,300 32,014 65,118
Netherlands 2,511,824 499,714 2,123,467
Portugal 52,957 14,758 167,725
Spain 534,569 439,952 881,579
Sweden 300,474 180,430 486,407
United Kingdom 4,712,471 16,942,608 4,105,740
European Union, not
allocable * 78 -- * 2,358
Other West European
countries, total 1,128,819 845,439 1,023,511
Liechtenstein * 264 * 2 * 30
Monaco * 36 * 1,235 * 9
Norway 256,494 203,069 146,432
Switzerland 827,963 248,926 720,656
Turkey 43,037 377,615 144,416
Other West European
countries * 1,024 14,592 9,271
West European countries
not allocable -- -- * 2,697
East European countries,
total 107,569 304,550 572,214
Romania * 11,200 14,340 9,100
Former Soviet Union * 21,287 224,095 171,891
Other East Europe 75,082 66,115 391,223
Europe not allocable -- * 6 * 38,265
Africa, total 322,168 350,788 509,306
North Africa, total 24,027 103,845 49,853
Algeria * 274 * 1,227 * 3,449
Egypt 16,859 79,624 42,642
Libya -- * 397 --
Morocco * 3,557 2,660 2,860
Other North Africa * 3,337 * 19,937 901
East Africa, total 12,301 38,965 27,224
Ethiopia -- * 1,353 * 266
Kenya * 4,295 11,985 7,203
Tanzania * 901 * 541 * 1,004
Uganda -- * 224 * 1,323
Other East Africa * 7,105 24,862 17,429
West and Central Africa,
total 208,553 110,578 64,268
Gabon * 879 * 48,205 * 751
Ghana * 9,857 * 590 * 83
Liberia * 14,762 29,097 --
Nigeria 161,996 7,810 28,209
Zaire * 1,429 * 81 * 5,978
Other West and Central
Africa * 19.631 24,796 29,246
Southern Africa, total 77,286 97,400 367,772
Malawi * 809 * 1 * 1
Zimbabwe * 11,906 * 939 2,712
South Africa (including
Namibia) 62,853 93,164 327,155
Zambia * 1,434 * 332 * 1,447
Other Southern Africa * 285 * 2,964 * 36,457
Africa not allocable -- -- * 189
Asia, total 5,048,513 10,407,296 13,522,718
Middle East, total 152,430 569,577 386,318
Bahrain * 177 256,758 1,781
Iran (1) (1) * 79
Iraq -- -- * -289
Israel 43,604 41,525 164,781
Kuwait * 275 * 2,272 27,406
Lebanon * 72 * 12,337 21,095
Qatar -- * 33,741 8,597
Saudi Arabia 35,795 98,330 82,468
United Arab Emirates * 231 104,509 27,163
Other areas of the
Arabian Peninsula * 71,538 * 5,274 47,198
Other Middle East * 738 14,832 6,038
Southern and Southeast
Asia, total 1,034,817 3,670,226 2,634,071
Bangladesh -- * 15,718 * 840
India 26,997 417,794 101,465
Indonesia 370,595 443,457 215,006
Malaysia 86,993 316,667 250,292
Pakistan 6,228 234,721 6,804
Philippines 125,538 382,875 139,920
Singapore 228,854 1,285,333 1,715,839
Sri Lanka * 723 * 9,792 * 1,927
Thailand 187,739 447,779 196,076
Vietnam -- 13,599 1,424
Other Southern and
Southeast Asia * 1,151 102,491 4,479
Eastern Asia, total 3,861,258 6,167,239 10,373,000
China 22,572 126,834 611,189
Hong Kong 188,975 2,180,477 639,933
Japan 3,372,016 2,273,587 7,373,485
South Korea 168,230 831,796 1,062,889
Taiwan 109,465 747,231 672,996
Other Eastern Asia -- * 7,314 * 12,507
Asia not allocable * 7 * 254 * 129,330
Oceania, total 924,224 1,646,360 1,322,050
Australia 677,609 1,458,557 1,026,064
New Zealand 236,054 177,744 283,897
Other Oceania * 10,562 10,059 12,088
Puerto Rico and U.S.
Possessions, total 83,810 1,087,862 471,543
Puerto Rico 80,897 865,176 441,404
U.S. Possessions, total 2,913 222,686 30,139
American Samoa -- * 5,862 * 930
Guam * 1,109 82,073 23,061
Virgin Islands * 1,222 128,804 5,252
Other U.S. Possessions * 583 * 5,947 * 895
Country not stated 269,455 7,724,915 5,059,066
Foreign Sales Corporation
dividends (2) * 102 -- --
Interest-Charge Domestic
International Sales
Corporation dividends (2) -- -- --
Foreign income and taxes
reported on Form 1118
Gross income (less loss)
Oil and gas
extraction
Selected country Service Other income
income income (less loss)
(3)
(7) (8) (9)
All countries 31,387,624 120,893,731 21,013,968
Canada 1,138,265 7,367,344 * 725,158
Latin America, total 4,279,820 10,939,237 1,345,580
Mexico 474,223 3,244,670 * 4,496
Central America, total 92,059 561,208 --
Belize * 3,333 6,797 --
Costa Rica 17,882 38,209 --
El Salvador 5,501 115,331 --
Guatemala 25,436 145,807 --
Honduras 5,827 50,383 --
Nicaragua * 319 27,414 --
Panama 33,761 172,245 --
Caribbean countries, total 249,453 1,054,062 * 508,768
Cayman Islands (British) * 7,479 59,430 --
Dominican Republic 27,283 139,668 --
Haiti * 6,054 60,468 --
Jamaica 18,423 82,040 --
Trinidad and Tobago 41,403 586,121 * 508,768
Other Caribbean countries 148,810 126,334 --
South America, total 1,650,362 5,769,978 832,316
Argentina 482,221 1,230,558 * 240,629
Bolivia 34,412 36,061 --
Brazil 231,423 1,518,081 * 430
Chile 159,338 640,735 * 4
Colombia 158,645 1,242,259 * 469,286
Ecuador 28,869 195,040 * 104,223
Paraguay 8,245 31,174 --
Peru 47,507 454,630 * 102
Uruguay 34,446 36,104 --
Venezuela 461,339 274,505 * 17,641
Other South America 3,917 110,831 --
Latin America not allocable * 1,813,724 309,318 --
Other Western Hemisphere,
total 1,457,840 2,220,599 * 59,063
Bahamas 15,098 1,779,850 * 12
Bermuda 61,043 319,430 * 59,051
Netherlands Antilles * 4,695 49,930 --
Other British West Indies 9,154 51,338 --
All other Western
Hemisphere 1,367,851 20,053 --
Europe, total 5,777,798 37,486,684 7,898,566
European Union, total 4,963,599 31,159,562 6,023,088
Austria 17,263 185,153 --
Belgium 189,981 2,031,965 * 99
Denmark 30,782 471,630 * 274,567
Finland 17,541 254,994 --
France 267,571 1,856,898 * 1,937
Germany 479,106 3,353,178 * 481
Greece 64,212 129,859 --
Ireland 99,959 524,723 --
Italy 217,138 1,191,940 (1)
Luxembourg * 14,167 57,533 --
Netherlands 224,141 2,008,981 * 1,175,166
Portugal 24,700 105,291 --
Spain 55,464 398,725 --
Sweden 67,408 379,322 --
United Kingdom 3,194,164 18,163,172 4,570,839
European Union, not
allocable -- * 46,197 --
Other West European
countries, total 379,006 3,071,976 * 1,467,404
Liechtenstein * 881 * 219 --
Monaco * 8,810 * 6,833 --
Norway 103,187 1,894,988 * 1,467,404
Switzerland 213,129 936,371 --
Turkey 51,657 190,736 --
Other West European
countries * 1,341 7,314 --
West European countries
not allocable -- * 35,515 --
East European countries,
total 429,191 1,099,047 * 408,073
Romania * 6,516 23,263 * -352
Former Soviet Union 126,223 804,321 * 408,425
Other East Europe 296,452 271,462 --
Europe not allocable *6,003 2,156,099 --
Africa, total 1,084,205 2,661,880 1,312,129
North Africa, total 402,611 834,857 * 425,590
Algeria * 243,313 -107,528 * 45,555
Egypt 143,017 899,871 * 382,850
Libya -- * 287 --
Morocco * 1,756 34,098 --
Other North Africa * 14,526 8,129 * -2,814
East Africa, total 5,440 103,744 --
Ethiopia * 1 36,365 --
Kenya * 5,787 18,983 --
Tanzania * 27 27,195 --
Uganda * 4 875 --
Other East Africa * -376 20,327 --
West and Central Africa,
total 602,749 1,554,091 * 886,015
Gabon * 18,559 4,557 * 75,299
Ghana * 2,237 80,394 --
Liberia * 33,022 * 6,821 --
Nigeria 197,844 1,076,580 * 668,261
Zaire * 13 * 59,075 * 55,601
Other West and Central
Africa 351,073 326,664 * 86,854
Southern Africa, total 73,405 168,966 * 524
Malawi * 43 * 316 --
Zimbabwe * 521 3,525 --
South Africa (including
Namibia) 70,205 161,140 * 524
Zambia * 8 1,314 --
Other Southern Africa * 2,628 2,671 --
Africa not allocable -- * 222 --
Asia, total 10,840,068 28,574,065 4,536,151
Middle East, total 893,348 2,441,908 * 1,231,069
Bahrain 20,470 574 --
Iran -- * 6,794 --
Iraq -- * 1,296 --
Israel 36,272 248,227 --
Kuwait 82,721 33,696 --
Lebanon * 3,359 30,483 --
Qatar 42,734 116,318 * -1,036
Saudi Arabia 552,443 1,093,799 * 524,247
United Arab Emirates 76,569 386,403 * 232,369
Other areas of the
Arabian Peninsula 60,805 400,565 * 475,489
Other Middle East 17,975 123,753 --
Southern and Southeast
Asia, total 1,609,260 8,119,092 3,092,178
Bangladesh 15,917 28,513 --
India 254,320 411,146 --
Indonesia 372,962 3,609,017 1,748,954
Malaysia 139,970 1,132,361 * 750,752
Pakistan 31,562 112,613 * 23,238
Philippines 137,450 738,719 * -96
Singapore 459,569 1,366,560 * 7
Sri Lanka * 4,028 14,662 --
Thailand 155,848 666,631 * 569,501
Vietnam 14,365 1,043 * -178
Other Southern and
Southeast Asia 23,266 37,827 --
Eastern Asia, total 8,307,868 15,110,589 * 212,904
China 403,524 670,755 * 196,148
Hong Kong 580,775 3,649,875 --
Japan 6,570,001 7,633,910 * 16,756
South Korea 316,517 1,084,764 --
Taiwan 419,534 1,497,938 --
Other Eastern Asia * 17,517 573,347 --
Asia not allocable * 29,593 2,902,476 --
Oceania, total 588,839 4,561,567 * 1,506,590
Australia 316,233 4,184,230 * 1,438,421
New Zealand 32,775 200,840 * -6
Other Oceania 239,831 176,496 * 68,175
Puerto Rico and U.S.
Possessions, total 489,794 1,782,974 --
Puerto Rico 425,735 1,475,681 --
U.S. Possessions, total 64,059 307,293 --
American Samoa * 1,616 2,609 --
Guam 27,703 188,883 --
Virgin Islands 33,251 115,269 --
Other U.S. Possessions * 1,489 532 --
Country not stated 5,730,995 25,299,381 3,630,730
Foreign Sales Corporation
dividends (2) -- -- --
Interest-Charge Domestic
International Sales
Corporation dividends (2) -- -- --
Foreign income and taxes
reported on Form 1118
Specifi-
cally
Foreign allocable
Selected country branch income Total
income [section deductions
(3) 863(b)]
(3)
(10) (11) (12)
All countries 88,607,771 24,971,121 201,909,309
Canada 2,618,225 1,445,918 11,705,951
Latin America, total 11,214,336 2,037,512 22,367,820
Mexico 1,933,731 852,632 4,028,595
Central America, total 344,403 24,856 798,420
Belize * 2,872 547 37,729
Costa Rica * 1,942 6,078 72,464
El Salvador * 27,788 2,960 108,836
Guatemala * 106,448 3,152 155,885
Honduras * 19,523 2,160 52,947
Nicaragua * 7,412 3,113 15,069
Panama 173,506 6,846 353,942
Caribbean countries, total 656,591 65,929 1,830,242
Cayman Islands (British) 186,856 5,162 776,739
Dominican Republic 135,041 11,734 130,781
Haiti * 14,450 * 453 58,777
Jamaica 50,348 20,671 92,546
Trinidad and Tobago 113,220 2,445 541,337
Other Caribbean countries * 156,676 25,463 230,063
South America, total 6,417,710 1,087,288 12,013,533
Argentina 1,654,036 565,017 2,681,917
Bolivia * 25,832 6,880 60,422
Brazil 2,352,381 291,672 5,034,096
Chile 527,528 79,601 1,248,534
Colombia 712,930 61,989 1,176,849
Ecuador 59,597 17,834 177,991
Paraguay * 60,631 1,682 51,125
Peru 452,738 25,467 523,044
Uruguay 124,216 5,872 138,526
Venezuela 397,065 30,807 873,598
Other South America 50,755 468 47,430
Latin America not allocable * 1,861,901 * 6,807 3,697,030
Other Western Hemisphere,
total 3,140,218 16,095 5,091,089
Bahamas 1,347,831 38,618 2,290,342
Bermuda 339,117 16,713 1,164,777
Netherlands Antilles * 64.874 758 342,841
Other British West Indies 22,942 3,341 127,613
All other Western
Hemisphere * 1,365,454 1,711 1,165,517
Europe, total 34,728,658 5,604,072 71,980,216
European Union, total 31,129,589 5,082,947 61,563,138
Austria 134,412 21,518 518,782
Belgium 1,873,225 165,801 3,229,699
Denmark 407,832 16,156 577,419
Finland * 26,870 96,630 421,593
France 1,172,824 243,395 4,663,220
Germany 2,287,800 457,391 6,476,201
Greece 595,548 10,305 525,540
Ireland 137,860 35,449 1,796,177
Italy 1,296,027 326,107 3,078,235
Luxembourg * 6,956 * 515 279,069
Netherlands 2,757,305 230,266 3,731,761
Portugal 79,926 20,484 252,838
Spain 485,060 97,764 1,368,428
Sweden 158,410 42,198 875,443
United Kingdom 19,664,135 3,318,966 33,723,692
European Union, not
allocable * 45,398 -- * 45,042
Other West European
countries, total 2,773,405 241,009 7,243,334
Liechtenstein -- (1) 2,672
Monaco * 5,844 * 3 17,452
Norway 1,547,063 14,957 968,656
Switzerland 859,454 180,711 5,634,796
Turkey 359,786 43,409 576,996
Other West European
countries * 711 1,929 18,733
West European countries
not allocable * 546 -- * 24,030
East European countries,
total 779,731 222,646 1,782,458
Romania * 30,088 * 1,046 72,699
Former Soviet Union 390,270 163,333 984,252
Other East Europe 359,373 58,266 725,507
Europe not allocable * 45,933 * 57,471 1,391,286
Africa, total 1,233,350 149,986 2,709,675
North Africa, total 536,124 40,417 891,286
Algeria * 131,789 * 872 86,890
Egypt 336,388 31,978 738,432
Libya -- -- * 7,160
Morocco * 22,465 5,025 21,240
Other North Africa 45,482 2,541 37,564
East Africa, total 73,178 1,367 158,158
Ethiopia * 13,674 * 60 39,076
Kenya * 38,721 511 41,138
Tanzania * 2,662 * 386 35,798
Uganda -- * 152 2,276
Other East Africa * 18,122 * 258 39,870
West and Central Africa,
total 465,011 64,061 1,162,771
Gabon * 8,408 * 1,001 27,607
Ghana * 1 * 1,161 39,684
Liberia * 23,219 * 770 82,462
Nigeria * 120,178 20,050 448,026
Zaire (1) * 103 48,542
Other West and Central
Africa 313,206 40,975 516,449
Southern Africa, total 159,036 44,071 497,167
Malawi -- * 190 * 913
Zimbabwe * 49 * 73 12,562
South Africa (including
Namibia) * 158,887 37,377 434,025
Zambia * 5 * 90 4,240
Other Southern Africa * 95 * 6,341 45,427
Africa not allocable -- * 71 * 293
Asia, total 28,721,909 4,155,921 47,131,215
Middle East, total 1,801,216 312,574 3,018,761
Bahrain * 293,198 5,772 192,911
Iran -- * -2 741
Iraq -- -- * 321
Israel 24,612 36,844 334,589
Kuwait 27,161 8,716 107,066
Lebanon * 12,432 16,343 43,495
Qatar * 10,797 44,992 199,078
Saudi Arabia 697,076 170,982 1,334,211
United Arab Emirates 370,377 24,269 464,079
Other areas of the
Arabian Peninsula * 252,772 2,822 237,360
Other Middle East 112,792 1,837 104,910
Southern and Southeast
Asia, total 7,922,309 562,045 10,625,951
Bangladesh * 51,168 * 275 30,957
India 863,055 36,692 826,903
Indonesia 1,491,488 72,997 2,368,040
Malaysia 1,123,313 76,331 1,145,748
Pakistan 360,147 1,859 248,636
Philippines 753,168 302,884 949,698
Singapore 2,296,590 10,064 3,648,273
Sri Lanka * 9,504 578 17,850
Thailand 819,428 49,713 1,228,242
Vietnam * 17,653 1,000 33,545
Other Southern and
Southeast Asia * 136,794 9,652 128,056
Eastern Asia, total 18,992,540 3,083,675 30,656,975
China 544,251 180,522 1,384,166
Hong Kong 4,749,874 1,004,967 5,845,110
Japan 10,223,373 1,503,549 18,129,173
South Korea 1,388,307 164,426 2,192,599
Taiwan 2,069,224 218,458 2,690,865
Other Eastern Asia * 17,510 * 11,752 415,062
Asia not allocable * 5,844 * 197,627 2,829,529
Oceania, total 3,431,333 288,082 5,079,838
Australia 2,902,988 264,675 4,231,573
New Zealand 237,773 18,021 471,724
Other Oceania * 290,572 5,386 376,541
Puerto Rico and U.S.
Possessions, total 1,913,921 198,533 3,016,124
Puerto Rico 1,606,314 171,564 2,555,011
U.S. Possessions, total 307,607 26,969 461,114
American Samoa * 5,862 * 1,744 9,173
Guam 221,005 23,147 261,177
Virgin Islands 73,371 * 2,056 178,373
Other U.S. Possessions * 7,369 * 21 12,390
Country not stated 1,605,818 11,107,191 29,666,594
Foreign Sales Corporation
dividends (2) -- -- 3,160,787
Interest-Charge Domestic
International Sales
Corporation dividends (2) -- -- --
Foreign income and taxes reported
on Form 1118
Foreign
taxes paid,
accrued,
and
deemed
paid
Deduc-
tions Taxable
from oil income
Selected country and gas (less loss) Total
extrac- before
tion in- adjustments
come (4)
(13) (14) (15)
All countries 8,915,360 157,989,290 45,079,798
Canada 459,331 15,906,555 5,655,560
Latin America, total 898,475 16,280,149 4,295,619
Mexico * 3,192 4,580,692 1,098,347
Central America, total * -32 618,242 100,219
Belize -- 2,390 * 318
Costa Rica -- 52,067 14,356
El Salvador -- 80,131 7,742
Guatemala * -32 106,841 25,936
Honduras -- 24,145 7,997
Nicaragua -- 18,306 494
Panama -- 330,890 41,724
Caribbean countries, total * 454,045 1,466,814 183,402
Cayman Islands (British) -- 944,427 60,340
Dominican Republic -- 168,529 37,331
Haiti -- 15,584 * 6,644
Jamaica -- 51,361 12,554
Trinidad and Tobago * 454,045 142,029 47,038
Other Caribbean countries -- 144,885 19,496
South America, total 441,271 8,236,737 2,897,805
Argentina * 119,217 1,776,068 467,406
Bolivia * 132 33,566 5,803
Brazil * 539 3,607,589 1,565,006
Chile -- 1,000,511 265,777
Colombia 243,895 682,929 315,351
Ecuador * 63,202 130,251 14,125
Paraguay * 1,860 4,727 9,007
Peru * 599 301,432 111,359
Uruguay -- 75,785 12,532
Venezuela * 11,827 551,603 113,242
Other South America -- 72,275 * 18,195
Latin America not allocable -- 1,377,664 * 15,846
Other Western Hemisphere,
total * -14,931 3,102,456 188,052
Bahamas -- 907,541 13,101
Bermuda * -15,442 1,698,546 113,162
Netherlands Antilles -- 168,722 36,326
Other British West Indies -- 91,643 22,449
All other Western
Hemisphere * 511 236,035 * 3,013
Europe, total 2,863,553 66,714,408 20,036,867
European Union, total 2,272,049 59,673,515 17,615,094
Austria * -343 387,729 159,034
Belgium * 201 2,707,827 904,440
Denmark * 143,727 420,392 139,772
Finland -- 302,678 44,511
France * 325 3,863,793 1,321,863
Germany * 230 8,553,809 2,794,842
Greece * 53 315,246 34,423
Ireland * 70 2,565,771 117,440
Italy * 11,821 3,036,657 1,406,620
Luxembourg -- 442,364 203,177
Netherlands -- 8,607,060 2,762,987
Portugal * 112 286,410 82,585
Spain -- 1,851,004 732,516
Sweden 2,021,989 1,123,042 343,309
United Kingdom -- 25,205,763 6,567,123
Other European Economic
Community * 449,701 * 3,972 * 152
Other West European
countries, total -- 5,096,912 2,198,268
Liechtenstein -- 8,324 * 264
Monaco * 449,701 -445 * 158
Norway -- 2,164,771 955,912
Switzerland -- 2,568,847 1,118,716
Turkey -- 322,807 121,479
Other West European
countries -- 18,427 1,739
West European countries
not allocable * 141,803 * 14,182 --
East European countries,
total * 17,497 1,134,643 221,210
Romania * 124,306 4,279 17,722
Former Soviet Union -- 602,304 98,346
Other East Europe -- 528,061 105,142
Europe not allocable 533,293 809,337 * 2,295
Africa, total * 334,403 3,149,243 938,103
North Africa, total * 23,230 596,615 223,591
Algeria * 304,512 55,202 18,454
Egypt -- 504,516 192,662
Libya -- * -6,476 --
Morocco * 6,661 29,019 7,460
Other North Africa * 8 14,354 * 5,015
East Africa, total -- 56,111 21,566
Ethiopia * 8 -1,085 * 2,012
Kenya -- 14,672 10,481
Tanzania -- -3,084 * 1,164
Uganda -- 146 * 200
Other East Africa * 198,837 45,462 7,708
West and Central Africa,
total * 8,858 2,074,330 565,998
Gabon -- 122,276 * 2,980
Ghana -- 69,094 * 10,635
Liberia * 81,164 158,934 * 14,762
Nigeria * 41,368 1,416,294 405,220
Zaire * 67,447 20,981 * 7,878
Other West and Central
Africa * 44 286,752 124,523
Southern Africa, total -- 422,070 126,948
Malawi -- * 1,208 * 809
Zimbabwe * 44 22,844 14,998
South Africa (including
Namibia) -- 394,422 102,836
Zambia -- 3,395 * 1,752
Other Southern Africa -- 202 * 6,553
Africa not allocable -- * 118 --
Asia, total 1,897,901 29,299,006 10,228,323
Middle East, total * 801,751 1,782,197 608,311
Bahrain -- 87,893 * 179
Iran -- 7,446 (1)
Iraq -- * 686 --
Israel -- 306,176 81,493
Kuwait * 8,306 40,188 8,043
Lebanon -- 24,727 971
Qatar * 5,135 2,311 * 2,744
Saudi Arabia * 501,889 608,714 267,264
United Arab Emirates * 167,307 188,100 65,182
Other areas of the
Arabian Peninsula * 119,115 448,055 177,593
Other Middle East -- 67,901 4,842
Southern and Southeast
Asia, total 1,007,014 9,313,835 2,910,136
Bangladesh * 260 30,031 * 6,164
India * 1 436,433 179,096
Indonesia 554,961 3,194,309 1,451,437
Malaysia * 315,229 1,062,199 255,562
Pakistan * 5,729 151,959 52,571
Philippines * 571 836,744 269,933
Singapore * 49 2,571,526 359,282
Sri Lanka -- 14,842 2,751
Thailand * 129,705 971,678 319,447
Vietnam * 509 -3,114 568
Other Southern and
Southeast Asia -- 47,229 * 13,324
Eastern Asia, total * 89,136 17,970,789 6,709,839
China * 89,047 555,751 67,950
Hong Kong -- 2,558,269 616,411
Japan * 88 11,976,713 5,105,043
South Korea -- 1,548,915 597,712
Taiwan -- 1,135,519 322,723
Other Eastern Asia -- 195,624 (1)
Asia not allocable -- 232,184 * 36
Oceania, total 558,489 6,269,134 1,959,607
Australia * 517,700 5,060,397 1,619,917
New Zealand * 11 1,043,213 286,467
Other Oceania * 407,78 165,524 53,224
Puerto Rico and U.S.
Possessions, total * 68 1,372,879 292,760
Puerto Rico -- 1,182,078 260,022
U.S. Possessions, total * 68 190,801 32,738
American Samoa -- 1,843 * 770
Guam * 68 71,163 19,036
Virgin Islands -- 112,192 12,183
Other U.S. Possessions -- 5,602 * 750
Country not stated 1,719,182 15,786,375 1,484,789
Foreign Sales Corporation
dividends (2) -- 108,026 * 102
Interest-Charge Domestic
International Sales
Corporation dividends (2) -- * 1,029 --
Foreign income and taxes
reported on Form 1118
Foreign taxes paid, accrued,
and deemed paid
Foreign taxes paid or accrued
Taxes withheld at
source on--
Selected country Total Dividends Interest
(16) (17) (18)
All countries 16,056,942 2,767,327 640,883
Canada 866,979 337,193 42,976
Latin America, total 2,135,588 382,548 221,276
Mexico 410,408 7,774 40,062
Central America, total 51,457 4,687 826
Belize * 254 200 --
Costa Rica 10,777 2,344 * 305
El Salvador 4,777 * 54 * 107
Guatemala 17,474 * 384 * 290
Honduras 4,202 * 867 * 27
Nicaragua * 489 -- * 65
Panama 11,832 785 * 31
Caribbean countries, total 71,168 4,962 * 406
Cayman Islands (British) -- -- --
Dominican Republic 16,011 * 1,819 * 45
Haiti * 6,006 * 650 --
Jamaica 7,662 * 431 * 230
Trinidad and Tobago 40,464 * 2,062 * 94
Other Caribbean countries 1,025 (1) * 37
South America, total 1,586,709 365,124 170,094
Argentina 272,321 1,138 32,576
Bolivia 3,843 * 126 * 350
Brazil 656,665 289,759 127,490
Chile 225,176 61,619 5,931
Colombia 254,704 11,546 * 380
Ecuador 10,426 * 393 * 207
Paraguay 8,291 * 37 * 78
Peru 82,311 -- 740
Uruguay 6,011 -- --
Venezuela 50,444 * 506 2,342
Other South America * 16,516 -- --
Latin America not allocable * 15,846 -- * 9,888
Other Western Hemisphere,
total 6,356 * 1,083 --
Bahamas -- -- --
Bermuda -- -- --
Netherlands Antilles * 2,800 * 1,065 --
Other British West Indies 2,142 * 15 --
All other Western
Hemisphere * 1,414 * 3 --
Europe, total 4,794,348 1,392,987 99,250
European Union, total 3,609,501 1,118,104 67,496
Austria 30,968 22,278 * 37
Belgium 198,289 25,978 16,120
Denmark 54,701 6,592 --
Finland 14,698 3,768 * 26
France 230,514 71,751 1,456
Germany 336,549 133,058 * 68
Greece 12,265 * 256 (1)
Ireland 7,525 1,820 * 501
Italy 333,571 25,762 29,212
Luxembourg 13,877 13,498 --
Netherlands 251,159 149,731 * 858
Portugal 29,917 5,602 * 228
Spain 197,947 94,000 1,576
Sweden 42,835 32,071 * 20
United Kingdom 1,854,613 531,939 17,392
Other European Economic
Community * 73 -- --
Other West European
countries, total 1,068,912 269,294 30,105
Liechtenstein (1) (1) --
Monaco * 122 -- --
Norway 699,419 10,103 * 42
Switzerland 290,215 258,344 2,637
Turkey 78,442 * 844 * 27,427
Other West European
countries * 714 * 2 --
West European countries
not allocable -- -- --
East European countries,
total 113,640 5,476 * 1,649
Romania 6,522 * 77 * 500
Former Soviet Union 77,059 1,544 * 281
Other East Europe 30,059 3,854 * 867
Europe not allocable * 2,295 * 113 --
Africa, total 615,935 11,833 * 961
North Africa, total 199,564 * 1,229 * 724
Algeria * 18,179 * 947 --
Egypt 175,803 -- * 709
Libya -- -- --
Morocco 3,904 * 282 * 15
Other North Africa * 1,678 -- --
East Africa, total 9,264 970 * 201
Ethiopia * 2,012 -- --
Kenya 6,185 * 747 * 128
Tanzania * 263 -- --
Uganda * 200 -- --
Other East Africa * 603 * 223 * 73
West and Central Africa,
total 357,444 5,482 * 36
Gabon * 2,101 * 319 --
Ghana * 778 * 688 (1)
Liberia -- -- --
Nigeria 243,223 * 1,547 * 36
Zaire * 6,450 * 315 --
Other West and Central
Africa 104,892 * 2,614 --
Southern Africa, total 49,662 4,152 --
Malawi -- -- --
Zimbabwe 3,093 * 2,553 --
South Africa (including
Namibia) 39,983 978 --
Zambia * 318 * 112 --
Other Southern Africa * 6,268 * 510 --
Africa not allocable -- -- --
Asia, total 5,178,054 465,167 165,211
Middle East, total 455,881 19,487 604
Bahrain * 3 -- --
Iran -- -- --
Iraq -- -- --
Israel 37,889 9,205 508
Kuwait 7,768 -- --
Lebanon * 899 * 45 --
Qatar * 2,744 -- --
Saudi Arabia 231,469 * 135 * 96
United Arab Emirates 64,951 * 10,092 --
Other areas of the
Arabian Peninsula 106,055 -- --
Other Middle East 4,104 * 9 --
Southern and Southeast
Asia, total 1,875,316 108,186 26,071
Bangladesh *6,164 -- --
India 152,099 882 * 553
Indonesia 1,080,843 44,719 8,981
Malaysia 168,568 3,587 1,336
Pakistan 46,343 3,324 * 57
Philippines 144,395 43,011 11,259
Singapore 130,425 1,895 1,365
Sri Lanka 2,029 * 233 --
Thailand 131,708 10,535 2,519
Vietnam 568 -- --
Other Southern and
Southeast Asia * 12,173 -- --
Eastern Asia, total 2,846,828 337,494 138,535
China 45,378 47,007 6,237
Hong Kong 425,864 6,698 * 115,164
Japan 1,733,027 256,096 10,033
South Korea 429,313 * 5 4,347
Taiwan 213,246 27,668 2,754
Other Eastern Asia (1) -- --
Asia not allocable * 29 -- --
Oceania, total 1,035,383 43,276 11,644
Australia 942,308 32,651 10,424
New Zealand 50,413 8,458 1,085
Other Oceania 42,663 * 2,167 * 135
Puerto Rico and U.S.
Possessions, total 208,950 10,380 15,217
Puerto Rico 179,125 10,380 7,433
U.S. Possessions, total 29,825 -- * 7,784
American Samoa * 770 -- --
Guam 17,927 -- --
Virgin Islands 10,961 -- * 7,778
Other U.S. Possessions * 168 -- * 6
Country not stated 1,215,334 122,853 84,347
Foreign Sales Corporation
dividends (2) (1) (1) --
Interest-Charge Domestic
International Sales
Corporation dividends (2) -- -- --
Foreign income and taxes reported on
Form 1118
Foreign taxes paid, accrued, and
deemed paid
Foreign taxes paid or accrued
Taxes Other taxes paid
withheld or accrued on--
at source
on--
Specifi-
Rents, cally
royalties Branch allocable
Selected country and income income
license [section
fees 863(b)]
(19) (20) (21)
All countries 2,238,232 6,063,443 29,802
Canada 107,054 238,117 * 1,227
Latin America, total 399,454 444,300 * 530
Mexico 109,216 191,862 * 352
Central America, total 15,852 22,742 --
Belize -- * 54 --
Costa Rica 5,066 * 999 --
El Salvador 2,166 * 1,584 --
Guatemala 4,799 * 8,718 --
Honduras 926 * 1,625 --
Nicaragua * 171 * 178 --
Panama 2,723 * 7,984 --
Caribbean countries, total 2,867 23,821 * 170
Cayman Islands (British) -- -- --
Dominican Republic 1,694 * 11,467 * 170
Haiti * 32 * 1,011 --
Jamaica 814 4,794 --
Trinidad and Tobago * 230 * 6,142 --
Other Caribbean countries * 97 * 406 --
South America, total 265,583 205,874 * 8
Argentina 74,345 72,001 --
Bolivia * 217 * 2,391 --
Brazil 96,708 21,257 --
Chile 26,790 * 7,242 --
Colombia 26,346 55,034 --
Ecuador 5,555 * 675 * 8
Paraguay * 434 * 7,732 --
Peru 10,690 5,069 --
Uruguay 3,057 * 2,750 --
Venezuela 21,441 15,209 --
Other South America (1) * 16,515 --
Latin America not allocable * 5,937 -- --
Other Western Hemisphere,
total * 171 * 3,051 * 130
Bahamas -- -- --
Bermuda -- -- --
Netherlands Antilles -- * 1,225 --
Other British West Indies * 31 * 555 * 130
All other Western
Hemisphere * 140 * 1,271 --
Europe, total 330,447 2,046,379 * 4,759
European Union, total 284,990 1,324,405 * 3,666
Austria 1,339 * 6,331 --
Belgium 5,162 76,062 * 797
Denmark * 33 43,083 --
Finland 7,147 * 166 --
France 68,498 20,878 * 2,082
Germany 1,140 157,090 --
Greece 1,567 10,356 --
Ireland * 1,039 * 669 --
Italy 90,059 158,936 --
Luxembourg -- -- * 132
Netherlands 8,357 35,397 * -355
Portugal 17,218 5,151 --
Spain 70,087 22,956 --
Sweden * 1,705 7,434 --
United Kingdom 11,567 779,896 * 1,010
Other European Economic
Community * 73 -- --
Other West European
countries, total 25,007 686,528 * 975
Liechtenstein -- -- --
Monaco -- -- --
Norway * 28 657,014 * 2
Switzerland * 212 11,865 * 973
Turkey 24,721 * 17,614 --
Other West European
countries * 47 * 35 --
West European countries
not allocable -- -- --
East European countries,
total 20,332 33,417 * 81
Romania 2,025 * 3,819 --
Former Soviet Union 1,652 25,264 * 81
Other East Europe 16,655 * 4,334 (1)
Europe not allocable * 117 * 2,030 * 36
Africa, total 34,280 375,832 --
North Africa, total 2,881 26,645 --
Algeria * 57 * 6,994 --
Egypt 2,566 * 15,326 --
Libya -- -- --
Morocco * 216 * 2,766 --
Other North Africa * 42 * 1,558 --
East Africa, total 1,509 * 6,156 --
Ethiopia -- * 2,012 --
Kenya * 807 * 4,082 --
Tanzania * 263 -- --
Uganda * 200 -- --
Other East Africa * 238 * 62 --
West and Central Africa,
total 1,133 340,913 --
Gabon -- * 1,511 --
Ghana * 90 -- --
Liberia -- -- --
Nigeria * 479 * 239,673 --
Zaire -- -- --
Other West and Central
Africa * 564 99,729 --
Southern Africa, total 28,758 2,118 --
Malawi -- -- --
Zimbabwe 439 -- --
South Africa (including
Namibia) 22,921 * 1,916 --
Zambia * 4 * 202 --
Other Southern Africa * 5,394 -- --
Africa not allocable -- -- --
Asia, total 1,048,674 2,503,082 * 13,036
Middle East, total 31,083 231,876 * 1,625
Bahrain * 1 -- --
Iran -- -- --
Iraq -- -- --
Israel 25,361 * 439 --
Kuwait * 50 * 4,098 * 142
Lebanon * 36 * 818 --
Qatar -- * 2,444 --
Saudi Arabia 4,794 188,481 * 1,484
United Arab Emirates * 337 30,958 --
Other areas of the
Arabian Peninsula * 198 * 1,723 --
Other Middle East 306 * 2,916 --
Southern and Southeast
Asia, total 138,190 1,093,519 * 268
Bangladesh -- * 6,164 --
India 9,635 131,869 --
Indonesia 12,431 690,374 * 16
Malaysia 16,879 5,592 * 32
Pakistan * 174 * 41,150 --
Philippines 13,732 66,859 * 136
Singapore 60,400 57,435 --
Sri Lanka * 72 * 1,709 --
Thailand 24,788 79,529 * 80
Vietnam * 69 * 479 * 5
Other Southern and
Southeast Asia * 10 * 12,359 --
Eastern Asia, total 879,401 1,177,687 * 11,143
China 62,581 85,059 --
Hong Kong 8,081 119,974 * 2,386
Japan 670,584 687,677 * 8,493
South Korea 29,055 4,571 * 61
Taiwan 109,100 280,406 * 203
Other Eastern Asia (1) -- --
Asia not allocable -- -- --
Oceania, total 95,598 127,147 (1)
Australia 67,484 115,105 (1)
New Zealand 27,461 10,196 (1)
Other Oceania * 654 * 1,846 --
Puerto Rico and U.S.
Possessions, total 68,380 73,708 --
Puerto Rico 67,715 57,916 --
U.S. Possessions, total * 665 15,791 --
American Samoa -- * 684 --
Guam * 94 12,612 --
Virgin Islands * 571 2,352 --
Other U.S. Possessions -- * 143 --
Country not stated 154,172 251,829 10,120
Foreign Sales Corporation
dividends (2) -- -- --
Interest-Charge Domestic
International Sales
Corporation dividends (2) -- -- --
Foreign income and taxes
reported on Form 1118
Foreign taxes paid, accrued,
and deemed paid
Foreign taxes paid
or accrued
Other taxes paid
or accrued on--
Service Other Taxes
Selected country income income deemed
paid
(22) (23) (24)
All countries 292,786 4,024,468 29,022,856
Canada 28,563 111,851 4,788,581
Latin America, total 66,044 619,437 2,160,031
Mexico 14,854 46,289 687,938
Central America, total 3,799 3,551 48,762
Belize -- -- * 64
Costa Rica * 227 * 1,835 3,579
El Salvador * 73 * 794 * 2,965
Guatemala * 2,680 * 603 8,462
Honduras * 700 * 56 * 3,795
Nicaragua * 33 * 42 * 5
Panama * 86 * 222 29,892
Caribbean countries, total 5,357 * 33,586 112,234
Cayman Islands (British) -- -- 60,340
Dominican Republic * 234 * 582 21,320
Haiti -- * 4,313 * 638
Jamaica * 815 * 579 * 4,892
Trinidad and Tobago * 3,822 * 28,112 * 6,574
Other Caribbean countries * 485 -- 18,470
South America, total 44,035 535,989 1,311,097
Argentina 21,018 71,244 195,085
Bolivia * 509 * 249 * 1,960
Brazil 12,872 108,579 908,341
Chile * 1,042 122,552 40,601
Colombia 2,184 159,214 60,648
Ecuador * 378 3,210 3,700
Paraguay -- * 10 * 716
Peru * 863 64,949 29,047
Uruguay * 110 * 95 6,521
Venezuela 5,059 5,888 62,798
Other South America (1) -- * 1,680
Latin America not allocable -- * 22 --
Other Western Hemisphere,
total * 264 * 1,657 181,696
Bahamas -- -- 13,101
Bermuda -- -- 113,162
Netherlands Antilles -- * 510 33,526
Other British West Indies * 264 * 1,147 20,307
All other Western
Hemisphere -- -- * 1,599
Europe, total 79,993 840,534 15,242,619
European Union, total 74,563 736,276 14,005,593
Austria -- * 983 128,066
Belgium * 2,213 71,956 706,151
Denmark * 4,819 * 174 85,071
Finland * 6 * 3,585 29,814
France 3,906 61,943 1,091,349
Germany 16,228 28,965 2,468,293
Greece * 85 -- 22,158
Ireland * 3,143 * 353 109,915
Italy * 2,540 27,062 1,073,049
Luxembourg * 247 -- 189,300
Netherlands * 1,506 55,664 2,511,828
Portugal * 250 * 1,467 52,967
Spain 1,319 8,010 534,569
Sweden * 1,050 554 300,474
United Kingdom 37,249 475,561 4,712,510
Other European Economic
Community -- -- * 78
Other West European
countries, total 3,086 53,915 1,129,357
Liechtenstein -- -- * 264
Monaco * 122 -- * 36
Norway * 478 * 31,752 256,494
Switzerland * 1,591 14,594 828,501
Turkey * 895 * 6.940 43,037
Other West European
countries -- * 629 * 1,024
West European countries
not allocable -- -- --
East European countries,
total 2,344 50,342 107,569
Romania * 98 * 3 * 11,200
Former Soviet Union * 867 * 47,369 * 21,287
Other East Europe * 1,378 * 2,970 75,082
Europe not allocable -- -- --
Africa, total 10,589 182,439 322,168
North Africa, total 831 * 167,255 24,027
Algeria * 137 * 10,044 * 274
Egypt * 621 * 156,582 16,859
Libya -- -- --
Morocco * 69 * 555 * 3,557
Other North Africa * 5 * 73 * 3,337
East Africa, total * 425 * 4 12,301
Ethiopia -- -- --
Kenya * 418 * 4 * 4,295
Tanzania -- -- * 901
Uganda -- -- --
Other East Africa * 7 -- * 7,105
West and Central Africa,
total * 1,652 * 8,229 208,553
Gabon -- * 271 * 879
Ghana -- -- * 9,857
Liberia -- -- * 14,762
Nigeria * 1,458 * 30 161,996
Zaire -- * 6,135 * 1,429
Other West and Central
Africa * 194 * 1,792 * 19,631
Southern Africa, total * 7,681 * 6,952 77,286
Malawi -- -- * 809
Zimbabwe * 101 -- * 11,906
South Africa (including
Namibia) * 7,217 * 6,952 62,853
Zambia -- -- * 1,434
Other Southern Africa * 364 -- * 285
Africa not allocable -- -- --
Asia, total 42,823 940,061 5,050,269
Middle East, total 9,396 161,809 152,430
Bahrain -- * 1 * 177
Iran -- -- (1)
Iraq -- -- --
Israel * 10 2,366 43,604
Kuwait * 76 * 3,404 * 275
Lebanon -- -- * 72
Qatar -- * 300 --
Saudi Arabia * 8,733 * 27,744 35,795
United Arab Emirates -- * 23,564 * 231
Other areas of the
Arabian Peninsula * 425 * 103,709 * 71,538
Other Middle East * 152 * 721 * 738
Southern and Southeast
Asia, total 16,091 492,991 1,034,820
Bangladesh -- (1) --
India 2,963 6,197 26,997
Indonesia 3,329 320,993 370,595
Malaysia 629 140,513 86,993
Pakistan * 181 * 1,457 6,228
Philippines 3,562 5,836 125,538
Singapore 1,400 7,931 228,857
Sri Lanka * 15 -- * 723
Thailand 3,996 10,261 187,739
Vietnam * 17 (1) --
Other Southern and
Southeast Asia -- * -196 * 1,151
Eastern Asia, total 17,336 285,232 3,863,012
China 2,232 5,107 22,572
Hong Kong * 440 173,121 190,547
Japan 7,736 92,408 3,372,016
South Korea 2,687 6,476 168,400
Taiwan 4,242 8,121 109,477
Other Eastern Asia -- -- --
Asia not allocable -- * 29 * 7
Oceania, total 7,252 750,466 924,224
Australia 4,800 711,844 677,609
New Zealand * 1,714 1,498 236,054
Other Oceania * 738 * 37,124 * 10,562
Puerto Rico and U.S.
Possessions, total 8,809 32,456 83,810
Puerto Rico 7,805 27,875 80,897
U.S. Possessions, total 1,004 4,581 2,913
American Samoa * 86 -- --
Guam * 669 4,552 * 1,109
Virgin Islands * 249 * 10 * 1,222
Other U.S. Possessions -- * 19 * 583
Country not stated 46,449 545,564 269,455
Foreign Sales Corporation
dividends (2) -- -- * 102
Interest-Charge Domestic
International Sales
Corporation dividends (2) -- -- --
* Data should be used with caution because of the small number of
returns on which they are based.
(1) Less than $500.
(2) Dividends from an Interest-Charge Domestic International Sales
Corporation or a Foreign Sales Corporation were not reported for
specific foreign countries.
(3) Included in gross income (less loss), columns 2-8
(4) Included in total deductions, columns 12.
NOTE: Detail may not add to totals because of rounding.
Figure A
U.S. Corporation Returns with a Foreign Tax Credit: Income Subject to
U.S. Tax, Foreign-Source Taxable Income, Current-Year Foreign Taxes,
and Foreign Tax Credit, Tax Years 1993-1997
(Money amounts are in millions of dollars)
U.S. income tax
before credits
As a
Number of Income percentage
Tax year U.S. subject to Amount of income
corporation U.S. tax (1) subject to
returns U.S. tax
(1) (2) (3) (4)
1993 6,322 228,688 81,913 35.8
1994 7,199 255,439 90,786 35.5
1995 6,710 303,308 107,996 35.6
1996 6,100 370,049 130,748 35.3
1997 6,569 410,126 144,779 35.3
Foreign-source
taxable income Current-year
(less loss) (2) foreign taxes
As a
As a percentage
percentage of foreign-
Tax year Amount of income Amount source
subject to taxable
U.S. tax income (3)
(5) (6) (7) (8)
1993 94,687 41.4 23,716 25.0
1994 101,521 39.7 26,470 26.1
1995 120,518 39.7 30,930 25.7
1996 150,826 40.8 41,177 27.3
1997 157,989 38.5 45,080 28.5
Foreign tax credit
claimed
As a
percentage
Tax year Amount of U.S.
income tax
before credits
(9) (10)
1993 22,895 28.0
1994 25,419 28.0
1995 30,416 28.2
1996 40,255 30.8
1997 42,223 29.2
(1) "Worldwide taxable income" is used interchangeably with "Income
subject to U.S. tax."
(2) Before adjustments.
(3) The percentages shown in this column are not effective tax rates.
An effective tax rate would contain a measure of economic income in the
denominator and taxes on that income in the numerator. The percentages
shown here are simply a tool used to determine what factors contributed
to the relatively constant proportion of foreign tax credits to U.S.
tax liability over the 1993-1997 period.
Figure B
U.S. Corporation Returns with a Foreign Tax Credit: Foreign-Source
Taxable Income, Current-Year Foreign Taxes, Carryover and Foreign
Tax Credit, by Selected Separate Limitation Category, Tax Year 1997
[Money amounts are in thousands of dollars]
Foreign-source
Selected category taxable income Current-year
(less loss) (1) foreign taxes
(1) (2)
All separate limitation
categories (3) 157,989,290 45,079,798
Passive income 5,516,127 753,440
High withholding tax interest 1,049,945 248,216
Financial services income 32,390,150 6,948,651
Shipping income 1,763,587 96,940
General limitation income 113,077,355 35,481,821
Current-
year
foreign
taxes as
a per- Foreign
centage tax
Selected category of Carryover credit
foreign- claimed
source
taxable
income
(2)
(3) (4) (5)
All separate limitation
categories (3) 28.5 7,416,008 42,222,743
Passive income 13.7 38,315 695,627
High withholding tax interest 23.6 105,625 211,666
Financial services income 21.5 658,425 6,927,742
Shipping income 5.5 37,507 124,862
General limitation income 31.4 6,072,479 32,948,387
(1) Before adjustments.
(2) The percentages shown in this column are not effective tax rates.
An effective tax rate would contain a measure of economic income in
the denominator and taxes on that income in the numerator.
(3) Sum of detail does not equal total for these columns because only
selected categories are shown.
Figure C
U.S. Corporation Returns with a Foreign Tax Credit: Foreign-Source
Taxable Income, Current-Year Foreign Taxes, and Foreign Tax Credit,
by Selected Industrial Group, Tax Year 1997
[Money amounts are in millions of dollars]
Foreign-
source Current- Foreign
Number taxable year tax
Selected industrial group of income foreign credit
returns (less taxes claimed
loss) (1)
(1) (2) (3) (4)
All industries 6,569 157,989 45,080 42,223
Agriculture, forestry,
and fishing 134 140 34 35
Mining 133 3,159 1,298 907
Construction 183 155 48 44
Manufacturing 1,763 102,821 32,401 30,299
Food and kindred products 83 9,057 2,913 2,801
Petroleum (including
integrated) and coal
products 28 19,801 7,387 6,748
Electrical and electronic
equipment 327 13,430 3,205 2,963
Motor vehicles and
equipment 27 7,730 2,397 2,381
Transportation and public
utilities 159 5,373 872 803
Wholesale and retail trade 1,193 5,778 1,657 1,383
Finance, insurance, and real
estate 1,676 31,905 6,573 6,655
Banking 92 13,226 3,281 3,337
Insurance 297 9,722 1,484 1,553
Services 1,329 8,658 2,196 2,097
(1) Before adjustments.
NOTE: Industrial group detail may not add to the total for "All
industries" because of rounding.
Figure D
Selected Industry Shares of Total Foreign Tax Credit Claimed,
Selected Tax Years
Industry's percentage share of
foreign tax credit
Selected industrial group 1990 1992 1994 1996 1997
(1) (2) (3) (4) (5)
All industries 100.0 100.0 100.0 100.0 100.0
Agriculture, forestry, and
fishing 0.1 0.2 0.2 0.2 0.1
Mining 3.2 2.8 2.6 2.3 2.1
Construction 0.4 0.4 0.3 0.5 0.1
Manufacturing 83.1 71.4 70.0 72.5 71.8
Food and kindred products 3.7 6.0 5.5 5.7 6.6
Petroleum (including
integrated) and coal
products 21.5 20.3 17.1 19.0 16.0
Electrical and electronic
equipment 4.8 4.1 5.2 5.6 7.0
Motor vehicles and equipment 6.9 1.2 6.7 5.7 5.6
Transportation and public
utilities 0.6 2.2 3.8 1.1 1.9
Wholesale and retail trade 3.7 5.8 4.3 3.2 3.3
Finance, insurance, and real
estate 6.6 14.7 14.5 15.5 15.8
Banking 2.1 8.1 7.6 6.7 7.9
Insurance 2.5 3.5 4.0 3.6 3.7
Services 2.4 2.6 4.3 4.7 5.0
NOTE: Detail may not add to totals because of rounding.
Figure E
U.S. Corporation Returns with a Foreign Tax
Credit: Foreign Oil and Gas Extraction Gross
Income by Selected Industrial Group and
Selected Country, Tax Year 1997
[Money amounts are in millions of dollars]
Gross Percentage
Selected industrial group, country income of total
(less loss)
Selected industrial group:
All industries 21,014 100.0
Petroleum (including integrated)
and coal products manufacturing 17,349 82.6
Oil and gas extraction 2,037 9.7
Industrial plastics and synthetic
materials manufacturing 1,395 6.6
All other industries 233 1.1
Selected country:
All countries 21,014 100.0
United Kingdom 4,571 21.8
Indonesia 1,749 8.3
Norway 1,467 7.0
Australia 1,438 6.8
Netherlands 1,175 5.6
Malaysia * 751 * 3.6
Canada * 725 * 3.5
Nigeria * 668 * 3.2
Thailand * 570 * 2.7
Saudi Arabia * 524 * 2.5
Trinidad and Tobago * 509 * 2.4
Colombia * 469 * 2.2
Former Soviet Union * 408 * 1.9
All other countries 5,990 28.5
* Data should be used with caution because of the small number
of returns on which they are based.
Figure G
U.S. Corporation Returns with a Foreign Tax Credit: Foreign-Source
Taxable Income (Less Loss), by Selected Industrial Group and
Selected Country, Tax Year 1997
[Money amounts in thousands of dollars]
United
Selected industrial group All countries Kingdom Canada
(1) (2) (3)
All industries 157,989,290 25,205,763 15,906,555
Mining 3,159,297 450,420 190,264
Manufacturing 102,821,437 14,471,963 11,217,218
Food and kindred products 9,057,195 3,302,888 491,866
Industrial plastics and
synthetic materials 5,807,726 870,459 627,733
Drugs 7,792,900 781,170 278,818
Petroleum (including
integrated) and coal
products 19,801,407 4,471,913 1,291,767
Office, computing, and
accounting equipment 10,424,085 558,679 1,851,630
Electrical and electronic
equipment 13,430,204 1,901,263 789,225
Motor vehicles and
equipment 7,730,127 390,522 2,485,579
Transportation and public
utilities 5,372,629 390,968 508,782
Wholesale and retail trade 5,777,769 719,951 646,716
Finance, insurance, and
real estate 31,905,032 8,422,474 2,649,727
Banking 13,225,653 4,286,312 198,576
Insurance 9,722,081 1,206,669 2,213,080
Services 8,657,696 739,088 648,697
Other 295,430 10,899 45,151
Selected industrial group Japan Netherlands
(4) (5)
All industries 11,976,713 8,607,060
Mining * 2,156 107,892
Manufacturing 8,290,499 6,773,893
Food and kindred products 764,959 512,180
Industrial plastics and
synthetic materials 389,755 544,675
Drugs 615,808 694,541
Petroleum (including
integrated and coal
products 435,419 1,891,428
Office, computing, and
accounting equipment 2,150,304 933,701
Electrical and electronic
equipment 1,917,387 630,498
Motor vehicles and
equipment 394,126 133,366
Transportation and public
utilities 17,095 51,451
Wholesale and retail trade 611,128 159,045
Finance, insurance, and
real estate 1,584,750 403,484
Banking 417,785 118,289
Insurance 1,082,238 182,532
Services 1,465,464 1,106,764
Other 5,621 4,531
Selected industrial group Germany Rest of world
(6) (7)
All industries 8,553,809 87,739,390
Mining * 5,458 2,403,107
Manufacturing 6,246,336 55,821,528
Food and kindred products 523,013 3,462,289
Industrial plastics and
synthetic materials 770,802 2,604,302
Drugs 777,938 4,644,625
Petroleum (including
integrated and coal
products 131,167 11,579,713
Office, computing, and
accounting equipment 456,220 4,473,551
Electrical and electronic
equipment 566,404 7,625,427
Motor vehicles and
equipment 622,613 3,703,921
Transportation and public
utilities 63,716 4,340,617
Wholesale and retail trade 874,539 2,766,390
Finance, insurance, and
real estate 919,917 17,924,680
Banking 359,955 7,844,736
Insurance 145,437 4,892,125
Services 435,114 4,262,569
Other 8,729 220,499
* Data should be used with caution because of the small number of
returns on which they were based.
Figure I
U.S. Corporation Returns with a Foreign Tax Credit: Taxable Income
(Less Loss) from Foreign Branches, by Selected Country, Tax Year 1997
[Money amounts in thousands of dollars]
Manufacturing
Selected country All industries Petroleum All other
(1) (2) (3)
All countries 56,299,939 9,596,777 6,992,156
Australia 1,946,472 1,259,683 322,296
Bahamas 1,289,206 144,147 354
Brazil 1,312,350 38,401 10,328
Germany 1,291,197 81,159 878,999
Hong Kong 2,722,824 14,091 174,407
Japan 6,588,763 12,118 200,752
Mexico 1,390,768 2,607 837,991
Netherlands 2,383,480 1,659,538 543,369
Singapore 1,685,507 11,545 4,390
United Kingdom 14,557,160 3,206,181 187,186
Selected country Banking Insurance All other
(4) (5) (6)
All countries 29,214,315 5,828,794 4,667,897
Australia 277,141 25,500 61,852
Bahamas 1,144,666 -- 39
Brazil 1,226,944 -64 36,741
Germany 217,077 11,037 102,925
Hong Kong 2,253,983 60,828 219,515
Japan 1,273,599 4,993,482 108,812
Mexico 422,352 12,706 115,112
Netherlands 81,325 12,641 86,607
Singapore 1,558,983 689 109,900
United Kingdom 9,696,359 213,015 1,254,419
Figure J
Coefficients of Variation for Foreign Tax Credit,
by Selected Industrial Group, Tax Year 1997
Coefficients of
variation for
Selected industrial group foreign tax
credit
(percentages)
All industries 0.04
Agriculture, forestry, and fishing 0.77
Mining 0.53
Construction 8.14
Manufacturing 0.02
Food and kindred products 0.01
Industrial, plastics, and synthetic materials 0.05
Drugs 0.05
Petroleum (included integrated) and coal products 0.02
Office, computing and accounting equipment 0.01
Electrical and electronic equipment 0.05
Motor vehicles and equipment (1)
Transportation and public utilities 0.52
Wholesale and retail trade 0.50
Finance, insurance, and real estate 0.13
Banking (1)
Insurance 0.15
Services 0.37
(1) Less than .005 percent.
Notes and References
[1] See Ward, Nick, "Corporate Foreign Tax Credit, 1996: An Industry and Geographic Focus," Statistics of Income Bulletin, Summer 2000, Volume 20, Number 1.
[2] Because income tax returns for FSC's were not included in the sample used for the statistics, this income category is not included. However, distributions from FSC's or former FSC's are reported on the parent corporation's return and are included in these statistics when provided by the taxpayers. In this study, this particular statutory category is used when corporations report an irregular separate category of income that cannot be redefined for one of the existing categories of income.
[3] No foreign tax credit is allowed for foreign taxes paid to certain sanctioned countries. However, a foreign tax credit limitation is computed for each such country. The sanctioned countries for 1997 are Cuba, Iran, Iraq, Libya, North Korea, Sudan, and Syria.
[4] According to Internal Revenue Code section 999, U.S. persons that participate or cooperate in international boycotts that are not sanctioned by U.S. law, regulation, or executive order are penalized under the boycott provisions. Under these boycott provisions, the penalty includes a reduction of foreign tax credits, an increase in Controlled Foreign Corporation's taxable income under Subpart F, and a reduction in Foreign Sales Corporation (FSC) benefits and Interest-Charge Domestic International Sales Corporations (IC-DISC) benefits, as applicable. For more information on International Boycotts, see Daly, Susan M., "International Boycott Reports, 1997 and 1998," Statistics of Income Bulletin, Winter 2000-2001, Volume 20, Number 3.
[5] U.S. corporations are subject to a graduated tax rate based on their taxable income per Internal Revenue Code section 11 and Internal Revenue Code section 1201. For 1997, the corporation tax rate was 15 percent on the first $50,000 of taxable income, 25 percent on the next $25,000, 34 percent on taxable income between $75,000 and $10 million, and 35 percent on the excess over $10 million. However, a 5-percent tax was imposed on taxable income between $100,000 and $335,000 in order to phase out the benefit of the lower rates for high-income corporations; thus, the total marginal rate in this income range is 39 percent. Similarly, a 3-percent tax was imposed on taxable income between $15 million and $18.3 million resulting in a total marginal rate in this income range of 38 percent.'
[6] U.S. corporations included in the SOI annual study vary from one year to the next. The analysis of the foreign tax credit over time is not based on a panel of corporations. Therefore, "growth" may be due to several factors, including a different makeup of firms in each year.
[7] Current-year foreign taxes as a percentage of foreign-source taxable income should not be construed as a measure of the effective tax rate. An effective tax rate would contain a measure of economic income in the denominator and taxes on that income in the numerator. These percentages are simply a tool used to compare the proportion of taxes to foreign-source taxable income in each statutory group.
[8] The majority of Netherlands-sourced taxable income from non-manufacturing U.S. corporations was from services.
[9] A U.S. corporation, which received actual or constructive dividends from a related foreign subsidiary, is allowed to include a portion of the foreign taxes paid by the subsidiary for purposes of determining the foreign tax credit. Under Internal Revenue Code section 902(a), the portion of foreign taxes deemed paid by a U.S. parent corporation equals the product of the foreign income taxes multiplied by the ratio of dividends to undistributed earnings. The purpose of this formula is to allocate a portion of the foreign income taxes paid by a foreign subsidiary to the dividend distribution. The term "undistributed earnings" refers essentially to the corporation's earnings and profits accumulated through the current year. The foreign taxes paid by the foreign subsidiary are considered to be indirectly, or deemed, paid by the related U.S. corporation.
[10] Four of these countries (Germany, Japan, the Netherlands, and the United Kingdom) were included in the five largest countries in terms of taxable income. Recall that the five largest countries accounted for approximately 42.2 percent of the total taxable income. More than half of U.K.-sourced and Japan-sourced taxable income is from U.S. corporations operating through foreign branches in these countries. As expected, the industry composition for these countries closely resembles the industry composition of the foreign branches operating in these countries.
[11] Internal Revenue Service, Statistics of Income--1997, Corporation Income Tax Returns, Publication 16, Rev. 9-2000.
Kathryn A. Green is a statistician with the Special Studies Returns Analysis Section. Scott Luttrell is an economist with the Special Studies Returns Analysis Section. This article was prepared under the direction of Chris R. Carson, Chief.
COPYRIGHT 2001 U.S. Government Printing Office
COPYRIGHT 2004 Gale Group