Sole Proprietorship Returns, Tax Year 2022

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by Adrian Dungan and Adam Snyder

or Tax Year (TY) 2022, there were approximately 31.0

million individual income tax returns that reported nonfarm sole proprietorship activity, a 5.7% increase from

2021. Total receipts reported by nonfarm sole proprietorships

increased 11.4%, while deductions increased 14.7%, and profits

fell 0.2% to $410.7 billion in 2022. In constant dollars, total

receipts rose by 4.0%, deductions rose by 7.0%, and profits decreased by 6.8%. Total profits as a percentage of business receipts went from 22.0% in TY 2021 down to 19.7% in TY 2022,

the lowest it has been since 1990. The professional, scientific,

and technical services sector remained the sector with the largest share of profits at 24.7% with profits increasing by 2.5% to

$101.6 billion. Half of the sectors saw increases in profits, with

the largest percentage increase in the arts, entertainment, and

recreation sector, which increased 15.0% to $15.0 billion.

The construction sector reported the largest percentage of

total business receipts (18.1%) and total business deductions

(19.3%). The arts, entertainment, and recreation sector reported

the largest percentage increase in business receipts (24.4%) and

the construction sector experienced the largest dollar increase in

business receipts, increasing by $57.1 billion.

Returns and Receipts

For all nonfarm sole proprietorship industries, total business receipts (the sum of “income from sales and operations” and “other

business income”) increased 11.4%, from $1,868.0 billion to

$2,080.7 billion (Figure A).1 Between TYs 2021 and 2022, the

number of individual income tax returns reporting nonfarm sole

proprietorship activity increased 5.7% to 31.0 million (Figure

A).2 The wholesale trade (merchant wholesalers) sector had the

largest percentage increase in the number of returns among all

sectors, increasing 14.4% for TY 2022 following a 9.3% rise in

TY 2021.

Figure A

Nonfarm Sole Proprietorship Returns, Receipts, and Deductions, by Selected Industrial Sector, Tax Years 2021 and 2022

[Number of returns is in thousands--money amounts are in billions of dollars]]

Number of returns

Selected industrial sector

2021

Total business receipts

2022

Percentage

increase

2021

2022

Total business deductions [1]

Percentage

increase

2021

2022

Percentage

increase

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

All nonfarm industries

29,309.6

30,983.8

5.7

1,868.0

2,080.7

11.4

1,458.0

1,671.9

14.7

Construction

Wholesale trade (merchant wholesalers)

Retail trade

Transportation and warehousing

Finance and insurance

Real estate and rental and leasing

Professional, scientific, and technical services

Administrative and support and waste management services

Health care and social assistance

Arts, entertainment, and recreation

Other services

All other sectors

3,145.5

363.7

2,687.8

3,671.9

718.9

1,499.7

3,680.2

2,775.9

2,190.0

1,626.7

3,704.3

3,244.9

3,316.9

416.1

2,402.6

3,775.8

714.4

1,531.9

3,917.1

3,147.6

2,420.1

1,806.7

4,052.7

3,481.8

5.4

14.4

-10.6

2.8

-0.6

2.1

6.4

13.4

10.5

11.1

9.4

7.3

320.0

63.9

222.8

176.2

123.0

127.1

227.3

100.2

129.1

51.5

137.0

190.0

377.1

75.5

211.8

202.6

123.8

125.8

247.8

118.0

142.3

64.0

160.2

231.7

17.8

18.1

-4.9

15.0

0.6

-1.0

9.0

17.8

10.2

24.4

17.0

22.0

269.6

58.0

205.8

151.5

95.7

81.0

128.3

73.8

81.6

38.6

105.4

168.8

322.9

69.6

198.5

180.3

96.6

79.4

146.5

88.7

91.7

49.2

127.5

220.9

19.8

20.1

-3.5

19.0

1.0

-2.0

14.2

20.3

12.5

27.4

21.0

30.9

[1] Total business deductions are calculated before subtraction of nonallowable "passive" activity losses and inclusion of any "passive loss" carryover from prior years.

NOTES: Detail may not add to totals because of rounding. Percentages were calculated before rounding.

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024.

Statistics for “business receipts, total” in Table 2 represent the total receipts of the business, mainly gross receipts from sales and operations. Business receipts also include miscellaneous

business receipts, such as incidental sales of scrap, shown separately as “other business income.” However, business receipts exclude incidental investment income received through the business.

Examples of such incidental investment income are interest, dividends, income or loss from rents or royalties, and capital or ordinary gain or loss from the sales of investment and business

properties. Sole proprietors report incidental investment income, in combination with nonbusiness related investment income, as part of their total income on their individual income tax returns.

For TY 2022, the 30,980,966 nonfarm sole proprietorship returns accounted for an estimated 35,255,144 nonfarm businesses. For purposes of these statistics, if a proprietor owned more than

one business, the statistics for each business were combined with those of the proprietor’s dominant business and included in the industrial group for that business activity. When this occurred,

the sum of net incomes (for businesses reporting a positive net income) reduced by the sum of net deficits (for businesses reporting a deficit) yielded the profits for a specific industrial group.

The North American Industry Classification System (NAICS) was used to classify data by industries. The Statistics of Income (SOI) Division applied these classifications on a “per business”

(rather than on a “per establishment”) basis by combining various industry groups, although businesses were further combined as described above. While the wording of the industry titles used

for the sole proprietorship statistics diverge somewhat from those appearing in NAICS, the definitions are consistent.

NAICS for industrial coding was introduced in 1998. Prior to 1998, industries were classified using the Standard Industrial Classification (SIC). Due to coding changes, comparisons between

data by industry from 1998–2021 with 1997 and prior years may show inconsistencies. A reason for this is that several types of sole proprietorships under NAICS were classified in completely

different industrial groups, which makes prior-year comparisons under the SIC system inappropriate. For example, in 1997, finance, insurance, and real estate were classified as one industry

under the SIC system, while under the NAICS system, the group is split into two industrial sectors. The industrial sectors based on the NAICS codes are reported in Tables 1 and 2.

Statistics of Income

Statistics of Income Bulletin | Spring 2025

www.irs.gov/statistics

Sole Proprietorship Returns, Tax Year 2022

The number of returns for the subsector of the transportation

and warehousing specific to Taxis, limousines, and other ridesharing services, rose by 4.7% while the business receipts in this

subsector increased by 34.6%. Between TYs 2013 and 2022, the

average business receipts per return in this subsector (taxis, etc.)

fell from $36,420 to $33,023, although the 2022 average was

the highest for this group since 2013 (Figure B).

The administrative and support and waste management

services and the construction sectors had relatively large percentages of profits accounted for by returns with business receipts of less than $100,000. In the administrative and support

and waste management services sector, 93.7% of returns had

business receipts less than $100,000; these returns accounted

for 53.1% of the sector’s total profits. For the transportation and

warehousing sector, 88.3% of the returns had business receipts

of $100,000 or less; these returns accounted for 43.1% of total

profits while the construction sector had 79.7% of such returns,

accounting for 38.3% of its total profits. (Figure C) Conversely,

the wholesale trade (0.7%), the finance and insurance (8.5%)

and retail trade (-7.2%) sectors had much lower percentages

of profits accounted for by returns with business receipts of

$100,000 or less. The professional, scientific, and technical services sector and the transportation and warehousing sector had

the largest number of returns with business receipts less than

Figure B

Nonfarm Sole Proprietorships: Income Statements for Taxis and Limousines, Including Ride-Sharing Services, Tax Years 2013–2022

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Net income status, item

Taxis and limousines, including ride-sharing services

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

(10)

BUSINESSES WITH AND WITHOUT NET

INCOME

Number of returns [1]

Business receipts, total [1,2]

Income from sales and operations [1]

230,481

331,281

555,046

847,065

1,037,701

1,103,024

1,363,610

1,170,553

1,121,324

134,848

8,394,177

10,874,894

12,808,899

16,667,209

21,538,304

26,481,055

33,718,564

21,383,832

28,793,892

8,565,515

8,470,012

8,238,769

10,658,172

12,680,939

16,445,007

21,283,180

26,077,063

33,303,882

20,922,905

28,259,130

Other business income (loss) [1]

155,408

216,722

127,959

222,202

255,124

403,992

414,682

460,927

534,762

95,503

Business deductions, total [1,2,3]

6,026,516

8,405,469

10,153,715

13,459,248

17,853,556

22,749,710

28,736,655

19,263,108

24,510,621

8,134,428

Cost of sales and operations

85,707

220,143

200,268

168,933

203,540

137,168

327,319

172,508

382,383

4,919,012

Advertising expenses

58,833

46,425

60,397

69,043

90,730

114,344

86,927

80,094

86,668

140,085

1,446,115

2,154,758

2,725,539

4,480,628

6,469,898

8,946,327

12,245,949

7,857,552

9,155,266

308,150

Commissions

179,673

230,200

487,736

794,283

1,222,840

1,661,332

2,211,004

1,168,043

1,907,585

66,356

Contract labor

193,757

278,918

199,810

179,858

489,904

277,689

342,311

231,378

185,895

96,039

Depreciation

252,269

362,876

488,304

459,246

678,466

649,395

839,486

770,476

800,468

124,416

Insurance

303,001

403,056

382,624

487,139

520,928

551,804

639,088

562,811

607,399

56,342

Legal and professional services

36,102

45,489

60,581

77,012

135,018

189,579

187,871

140,485

158,489

64,303

25,104

Car and truck expenses

Meals and entertainment deducted

68,614

85,709

89,987

224,901

273,547

295,317

329,951

272,742

411,572

Other interest paid on business indebtedness

49,441

13,270

34,864

30,653

39,506

62,813

46,371

33,338

29,541

40,275

Office expenses

21,934

29,264

57,056

75,168

97,634

130,595

96,745

104,520

132,692

143,205

Rent paid on machinery and equipment

1,244,278

1,676,672

1,613,450

1,622,525

1,484,949

1,407,164

1,410,343

827,056

931,342

8,890

Rent paid on other business property

149,334

120,421

234,897

227,218

242,263

263,762

421,073

205,482

304,966

296,973

Repairs

209,576

289,536

359,142

375,638

528,036

640,663

699,347

584,932

714,954

41,706

Supplies

41,890

125,806

99,870

199,312

245,197

387,074

445,042

448,008

639,611

198,127

Salaries and wages

115,582

103,728

109,566

219,346

129,258

115,582

247,937

109,566

129,258

Taxes paid

89,953

139,797

122,103

211,215

222,812

263,331

230,948

155,745

210,263

117,173

Travel

53,945

73,095

74,806

105,037

206,122

291,242

212,532

167,705

185,324

37,583

Utilities

145,183

199,119

320,180

429,427

581,156

749,740

924,816

746,199

784,412

185,231

Other business expenses

1,206,370

1,669,365

2,206,131

2,728,782

3,685,076

5,292,885

6,649,634

4,458,200

6,662,645

744,803

Net income less deficit [1,2]

2,367,665

2,470,162

2,656,632

3,223,125

3,694,665

3,760,332

5,023,587

2,259,454

4,313,164

429,286

2,629,448

2,940,526

3,457,190

4,382,503

5,485,379

6,176,837

7,907,572

5,181,445

7,062,741

983,440

261,783

470,364

800,558

1,159,378

1,790,714

2,416,505

2,883,985

2,921,992

2,749,578

554,154

Net income [1,2]

Deficit [2]

Returns with Schedule C-EZ:

Number of returns

23,418

36,026

126,124

193,612

169,286

107,768

[4]

Business receipts

223,733

197,099

502,216

595,387

731,185

522,547

[4]

Business deductions

39,465

39,656

164,642

198,272

224,661

160,568

[4]

Net income

184,268

157,444

337,574

397,116

506,525

361,979

[4]

[1] Includes returns with Schedule C-EZ attached. Schedule C-EZ was filed for certain small businesses, i.e., those with net incomes, business expenses of $5,000 or less, used the cash accounting method, with

no inventories or employees, and with no deduction for a home office business and no allowable "passive" activity losses. Because only a total is reported for business deductions on Schedule C-EZ, the totals

shown in the statistics exceed the sum of the detailed deductions; the detailed deductions are, therefore, slightly understated.

[2] Total business deductions are before subtraction of nonallowable "passive" activity losses and any "passive loss" carryover from the prior

years. However, these losses (after subtraction) and any carrryover are reflected in net income or deficit. Therefore, total business receipts minus total business deductions may not always equal net income or

deficit.

[3] Total business deductions will not be equal to the total as items with an estimate based on a small number of sample returns have been removed.

[4] Schedule C-EZ was eliminated for Tax Year 2019 in accordance with the 2017 Tax Cuts and Jobs Act.

NOTE: Detail may not add to totals because of rounding.

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Figure C

Nonfarm Sole Proprietorships: Percentage of Industry’s Total Returns and Total Net Income for Returns with Business Receipts

Equal to or Less than $100,000, by Selected Industry, Tax Year 2022

30.1%

88.7%

All nonfarm industries

-7.2%

88.3%

Retail trade

0.7%

81.3%

Wholesale trade (merchant wholesalers)

8.5%

77.1%

Finance and insurance

17.5%

83.7%

Real estate and rental and leasing

22.1%

87.0%

Professional, scientific, and technical services

32.0%

94.8%

Arts, entertainment, and recreation

35.4%

90.2%

Health care and social assistance

38.3%

79.7%

Construction

43.1%

88.3%

Transportation and warehousing

53.1%

93.7%

Administrative and support and waste management services

-20%

20%

Net income

40%

60%

80%

100%

Number of returns

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024.

$100,000 with 3.4 and 3.3 million returns, respectively. Overall,

returns with business receipts of $100,000 or less comprised

88.7% of all sole proprietor returns, but earned just 30.1% of

the profits.

The arts, entertainment, and recreation sector showed the

largest percentage increase in business receipts, increasing

24.4% to $64.0 billion for TY 2022. The wholesale trade sector

experienced the second largest percentage increase in business

receipts, increasing by 18.1% to $75.5 billion. In constant dollars, total business receipts for TY 2022 experienced a modest

percentage increase compared to the 34 years covered in this

study, growing by 4.0% to $1,762.9 billion (in 2017 dollars,

Figure D).3

Deductions

Total business deductions (“cost of sales and operations” plus

business expenses, including expenses for home offices) in current dollars increased 14.7%, from $1,458.0 billion in TY 2021

to $1,671.9 billion in TY 2022 (Figure A).4, 5 In constant dollars,

total business deductions increased 7.0% in 2022 (Figure D).

Deductions for the construction sector, the largest sector

in terms of total business deductions, increased 19.8%, from

$269.6 billion in 2021 to $322.9 billion in 2022. The arts, entertainment, and recreation sector had the largest percentage increase of total business deductions, increasing 27.4% to $49.2

billion.

Based on the overall implicit price deflator for Gross Domestic Product. See U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business. Indices used for this

article can be found in Figure L.

Sole proprietors report personal, i.e., nonbusiness income and expense items, apart from business income or loss, which is reported on Profit or Loss From Business (Schedule C). Salaries

paid to owners are neither deducted as wages paid on Schedule C nor included as wages received on Form 1040, U.S. Individual Income Tax Return. Similarly, sole proprietors deduct charitable

contributions made through the business as personal expenses on Schedule A, Itemized Deductions. However, the owner of a sole proprietorship may choose to deduct any foreign taxes paid as

a business expense, unless the owner elects to claim these taxes as a credit against U.S. income tax.

Business deductions include the home office business deductions. After 1990, home office expenses were calculated separately on Form 8829, Expenses for Business Use of Your Home and

the deductible portion brought forward to Schedule C. In some cases, these expenses were limited. Starting in TY 2013, sole proprietors could also use a simplified method to determine these

costs by reporting on Schedule C square footage (up to 300 square feet) used for the home office. The taxpayer could then take $5 per square foot as a business expense. Prior to 1990, these

expenses were not limited and were included with other expenses, such as depreciation deductions, utilities, and “other” expenses on Schedule C.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Figure D

Nonfarm Sole Proprietorships: Business Receipts, Deductions, and Profits, Tax Years 1988–2022

Tax year

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

Current

dollars

Total business receipts

Constant dollars [2]

Percentage

Amount

change

Total business deductions [1]

Constant dollars [2]

Current

Percentage

dollars

Amount

change

Net income less deficit (profits)

Constant dollars [2]

Current

Percentage

dollars

Amount

change

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

672.0

692.8

730.6

712.6

737.1

757.2

790.6

807.4

843.2

870.4

918.3

969.3

1,021.0

1,016.8

1,029.7

1,050.2

1,139.5

1,222.9

1,278.4

1,324.4

1,317.4

1,178.4

1,195.5

1,265.9

1,301.6

1,341.6

1,393.9

1,443.6

1,422.2

1,531.3

1,589.7

1,639.7

1,605.2

1,868.0

2,080.7

1,221.6

1,211.9

1,231.9

1,162.3

1,175.5

1,179.6

1,205.9

1,206.1

1,237.1

1,255.3

1,309.6

1,363.1

1,403.9

1,367.4

1,363.6

1,363.8

1,441.0

1,499.4

1,520.6

1,533.8

1,496.9

1,330.7

1,333.8

1,383.8

1,396.8

1,415.6

1,445.6

1,483.4

1,447.7

1,531.3

1,554.1

1,576.5

1,523.2

1,694.9

1,762.9

[3]

-0.8

1.7

-5.7

1.1

0.3

2.2

[4]

2.6

1.5

4.3

4.1

3.0

-2.6

-0.3

0.0

5.7

4.1

1.4

0.9

-2.4

-11.1

0.2

3.7

0.9

1.3

2.1

2.6

-2.4

5.8

1.5

1.4

-3.4

11.3

4.0

545.7

560.2

589.2

571.2

583.1

600.8

623.8

638.1

666.5

683.9

716.2

761.4

806.4

799.6

808.9

820.2

892.4

953.4

1,001.1

1,044.3

1,053.7

934.5

929.0

984.2

997.6

1,040.4

1,078.5

1,112.8

1,094.9

1,186.5

1,242.4

1,283.0

1,268.9

1,458.0

1,671.9

992.0

980.0

993.5

931.7

929.9

935.9

951.5

953.3

977.7

986.3

1,021.3

1,070.8

1,108.9

1,075.4

1,071.2

1,065.1

1,128.5

1,169.0

1,190.8

1,209.4

1,197.2

1,055.3

1,036.4

1,075.9

1,070.5

1,097.8

1,118.5

1,143.5

1,114.5

1,186.5

1,214.6

1,233.5

1,204.1

1,322.9

1,416.6

[3]

-1.2

1.4

-6.2

-0.2

0.6

1.7

0.2

2.6

0.9

3.6

4.8

3.6

-3.0

-0.4

-0.6

6.0

3.6

1.9

1.6

-1.0

-11.9

-1.8

3.8

-0.5

2.5

1.9

2.2

-2.5

6.5

2.4

1.6

-2.4

9.9

7.0

126.3

132.7

141.4

141.5

154.0

156.5

166.8

169.3

176.8

186.6

202.3

207.9

214.7

217.4

221.1

230.3

247.6

269.9

278.0

280.6

264.5

244.8

267.7

282.6

304.9

302.3

317.1

331.8

328.2

346.2

348.5

355.2

337.2

411.3

410.7

229.6

232.1

238.4

230.8

245.6

243.7

254.4

252.9

259.3

269.2

288.5

292.4

295.3

292.3

292.8

299.1

313.1

331.0

330.7

324.9

300.5

276.5

298.7

309.0

327.2

318.9

328.8

341.0

334.1

346.2

340.7

341.5

320.0

373.2

347.9

[3]

1.1

2.7

-3.2

6.4

-0.8

4.4

-0.6

2.6

3.8

7.2

1.4

1.0

-1.0

0.2

2.1

4.7

5.7

-0.1

-1.8

-7.5

-8.0

8.0

3.5

5.9

-2.5

3.1

3.7

-2.0

3.6

-1.6

0.2

-6.3

16.6

-6.8

[1] Total business deductions are calculated before subtraction of nonallowable "passive" activity losses and any "passive loss" carryover from prior years. However, these losses (after subtraction) and any

carryover are reflected in net income less deficit. Therefore, total business receipts minus total business deductions may not always equal net income less deficit.

[2] Current dollars are the value of a dollar at the time it was measured. Constant dollars are based on the overall implicit price deflator for gross domestic product computed and reported by the U.S. Department

of Commerce, Bureau of Economic Analysis, in the Survey of Current Business. The deflator represents the annual average of current-weighted prices, based on 2017 = 100.

[3] Not calculated.

[4] Less than 0.05 percent.

NOTE: Percentages were calculated before rounding.

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024.

The cost of sales and operations represented 34.7% of total

TY 2022 business deductions ($580.2 billion) (Table 2). Total

business “expenses” (total business deductions minus the cost

of sales and operations) were $1,091.8 billion for 2022.

Historically, constant dollar depreciation increased almost

every year from 1993 through 2003.6 Between TYs 2004 and

2009, constant dollar depreciation dropped significantly, going

from $54.3 billion to $39.0 billion. In TY 2012, it dropped to

$36.7 billion, but subsequently climbed back to $42.1 billion

by 2017 (Figure E). Increases in TYs 2003 and 2008 coincided

with legislative changes to Section 179 of the Internal Revenue

Code (IRC) that substantially increased the amount of certain

investment property that could be expensed in a given year

rather than depreciated over time. Under the Jobs and Growth

Tax Relief Reconciliation Act of 2003, the maximum allowable Section 179 deduction vaulted from $24,000 in 2002 to

$100,000 in 2003. This change led to a constant dollar depreciation increase of 11.7% for 2003, which was the third highest

growth in depreciation of any year between TYs 1988 and 2021.

The initial increase in depreciation was followed by trends of

decreased depreciation, which is consistent with deductions

being accelerated into the year of expensing. Constant dollar

declines of depreciation were reported for TYs 2005, 2006, and

2007. This downward trend was particularly pronounced in

2005, as constant dollar depreciation fell by 11.7%, followed

by decreases of 3.2% in 2006 and 1.0% in 2007. During this

Under IRC Section 179, the cost of certain tangible property may be treated as a current expense rather than a capital expenditure subject to depreciation deductions. The Omnibus Budget

Reconciliation Act of 1993 (OBRA93) increased the maximum amount of investment that could immediately be deducted on property placed in service after 1992, from $10,000 to $17,500.

The increase in the constant dollar depreciation deductions for 1993, and subsequent decline in 1995, may be attributed, in part, to this provision of OBRA93. Following the enactment of this

provision, the 179 deduction for all individuals (not just sole proprietors) filing Form 4562, Depreciation and Amortization, increased 32.4% to $13.5 billion for 1993.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Figure E

Nonfarm Sole Proprietorships: Net Income, Deficit, and Depreciation, Tax Years 1988–2022

[Money amounts are in billions of dollars]

Current dollars [1]

Tax year

Constant dollars [1]

Percentage change in constant dollars [1]

Net income

Deficit

Depreciation [2]

Net income

Deficit

Depreciation [2]

Net income

Deficit

Depreciation [2]

(5)

(6)

(7)

(8)

(9)

(1)

(2)

(3)

(4)

1988

145.5

19.2

26.1

264.5

34.9

47.4

[3]

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

152.4

161.7

162.4

173.5

177.0

187.8

191.7

200.1

210.5

226.2

233.4

245.2

250.2

257.3

269.1

290.5

314.8

326.8

335.1

325.3

308.9

323.2

337.0

357.1

357.4

374.5

392.1

389.1

415.8

430.0

443.3

436.4

516.9

543.9

19.7

20.2

20.9

19.5

20.5

21.0

22.5

23.4

23.8

23.9

25.5

30.5

32.8

36.2

38.8

42.9

44.8

48.7

54.5

60.8

64.1

55.5

54.3

52.2

55.1

57.5

60.3

60.9

69.5

81.5

88.1

99.2

105.5

133.2

24.5

23.7

23.1

23.3

25.0

26.2

27.4

28.6

29.1

30.6

32.2

33.4

36.6

41.8

42.9

39.1

39.0

39.6

41.4

34.5

35.1

35.6

34.2

35.4

36.6

38.4

42.1

50.8

52.0

55.1

65.6

78.2

266.6

272.7

264.9

276.7

275.7

286.4

293.6

303.5

322.6

328.2

337.2

336.4

340.7

349.4

367.3

385.9

388.7

388.1

369.6

348.8

360.6

368.4

383.2

377.1

388.4

402.9

396.1

415.8

420.4

426.2

414.1

469.0

460.8

34.5

34.1

31.1

31.9

32.0

33.6

34.3

34.4

34.1

35.8

42.0

44.1

47.9

50.4

54.3

55.0

58.0

63.2

69.0

72.3

61.9

59.4

56.0

58.2

59.6

61.9

62.0

69.5

79.7

84.7

94.1

95.8

112.9

42.9

40.0

37.7

37.2

38.9

40.0

39.2

40.1

41.3

41.6

43.1

44.3

45.0

48.5

54.2

54.3

47.9

46.4

45.9

47.1

39.0

39.2

38.9

36.7

37.3

37.9

39.5

39.1

42.1

49.6

50.0

52.3

59.5

66.3

0.8

2.3

-2.9

4.5

-0.3

3.9

-0.0

2.5

3.4

6.3

1.8

2.7

-0.2

1.3

2.6

5.1

0.7

-0.2

-4.8

-5.6

3.4

2.2

4.0

-1.6

3.0

3.7

-1.7

5.0

1.1

1.4

-2.8

13.2

-1.8

-1.3

-1.2

0.1

-8.8

2.7

0.3

4.8

2.1

0.2

-0.7

5.0

17.2

5.1

8.6

5.1

7.8

1.3

5.4

9.0

9.3

4.8

-14.4

-4.1

-5.7

3.9

2.5

3.9

0.1

12.1

14.5

6.4

11.1

1.7

17.8

-9.7

-6.8

-5.7

-1.4

4.8

2.6

-1.9

2.4

2.8

0.7

3.7

2.8

1.5

7.9

11.7

0.1

-11.7

-3.2

-1.0

2.6

-17.2

0.5

-0.7

-5.6

1.6

4.1

-1.0

7.6

18.0

0.7

4.6

13.9

11.3

[1] Current dollars are the value of a dollar at the time it was measured. Constant dollars are based on the overall implicit price deflator for gross domestic product computed and reported by the U.S.

Department of Commerce, Bureau of Economic Analysis, in the Survey of Current Business. The deflator represents the annual average of current-weighted prices, based on 2017 = 100.

[2] Excludes depreciation claimed on Form 8829, Expenses for Business Use of Your Home.

[3] Not calculated.

[4] Less than 0.05 percent.

NOTE: Percentage changes were calculated before rounding.

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024.

same three-year period, Section 179 limits gradually increased

for inflation, finally rising to $125,000 in 2007.7 In 2008, the

Section 179 limit was doubled to $250,000 and there was a 2.6%

increase in constant dollar depreciation. The $250,000 limit remained for TY 2009 and depreciation dropped 17.2%, which

was the largest decrease since at least 1988. In TY 2010, the

Section 179 limit was again doubled to $500,000, but constant

dollar depreciation increased by only 0.5%, from $39.0 billion

to $39.2 billion. The limit was increased as part of the stimulus packages created in response to the Great Recession.8 The

Section 179 limit remained $500,000 for TYs 2011 through

2017. For 2011, constant dollar depreciation dropped by 0.7%;

in 2012 it dropped another 5.6% to $36.7 billion, the lowest

level over the 34 years of this study. The Tax Cuts and Jobs Act

Under the Jobs and Growth Tax Relief Reconciliation Act of 2003, the maximum amount of a Section 179 deduction increased four times between 2002 and 2006, from $24,000 (2002) to

$100,000 (2003) to $102,000 (2004) to $105,000 (2005), and then to $108,000 (2006). This was further expanded to $125,000 for 2007 by the Small Business and Work Opportunity Tax Act of

2007 (PL 110-28). The Jobs Creation and Worker Assistance Act of 2002 introduced 30% bonus depreciation, and the Jobs and Growth Tax Relief Reconciliation Act of 2003 increased the bonus

percentage to 50% for property placed in service by January 1, 2005. While bonus depreciation was available to sole proprietors, it was generally not as advantageous as immediate expensing

and, therefore, likely had less effect on their depreciation deductions.

For 2008, the Economic Stimulus Act of 2008 increased the maximum expensing deduction under Section 179 to $250,000. The American Recovery and Reinvestment Act of 2009 extended

that level through 2009. For all individual tax returns that filed Form 4562, Depreciation and Amortization, the Section 179 property deducted as an expense increased by 5.1% to $49.8 billion

for 2008. For 2009, when the maximum Section 179 deduction remained at $250,000, the amount deducted for all returns decreased by 17.2% to $41.3 billion. The amount deducted as Section

179 property on returns that had a Schedule C dropped 19.6% to $16.2 billion between 2008 and 2009. For 2010, the amount taxpayers could deduct as section 179 property increased to $500,000.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

of 2017 (TCJA) increased the additional first-year depreciation

deduction in IRC Section 168(k) from 50% to 100% for qualified property acquired and placed in service after September 27,

2017, and before January 1, 2023. The TCJA also expanded

bonus depreciation to certain used property. TY 2018 was the

first year that the TCJA impacted depreciation and, accordingly,

constant dollar depreciation rose by 18.0% to $49.6 billion. This

represents the highest percentage real growth in depreciation for

all 34 years included in this study. There was also a marked increase in constant dollar depreciation for TY 2021 when it rose

13.9% to $59.5 billion.

Beginning with TY 1992, certain smaller businesses could

elect not to itemize depreciation and other business deductions

by filing Schedule C-EZ, Net Profit From Business, a simplified

version of Schedule C, Profit or Loss From Business. (Schedules

C and C-EZ are the sources of nonfarm sole proprietorship

statistics.) However, for TY 2019, Schedule C-EZ was eliminated in accordance with IRC changes implemented by TCJA.

Previously, for TY 2018, taxpayers could use Schedule C-EZ

if they had business expenses of $5,000 or less; used the cash

accounting method; had no inventories; did not report a loss

from the business; had only one business as a sole proprietor;

and had no employees who were not required to file Form 4562,

Depreciation and Amortization for the business; claimed no deduction for home business expenses; and had no prior-year disallowed passive activity losses from the business. Since taxpayers using Schedule C-EZ did not itemize business deductions,

the detailed deductions in Table 2, based only on Schedule C

returns, are slightly understated and do not sum to the total deductions in Figure D.9

in 2022. Figure H shows net income less deficits as a percentage of business receipts for 1988 through 2022. In general, this

percentage has increased over time from a low of 18.8% for

1988, the exceptions being the periods leading up to the recession in the early 2000s and the Great Recession, starting in 2008.

For 2022, net income less deficits as a percentage of business

receipts decreased from 22.0% in 2021 to 19.7% in 2022, the

lowest it has been since 1990.

Profits and Losses

Figure F

Nonfarm Sole Proprietorship Profits, by Selected Industrial

Sector, Tax Years 2021 and 2022

Limited Liability Companies

TY 2001 was the first year for which data became available

on the number of Limited Liability Companies (LLCs) among

nonfarm sole proprietorship returns. LLC entities have limited

liability (like corporations), but they may be taxed as sole proprietorships (for which income and expenses flow through to

the owner to be taxed), if owned by one individual. In 2001,

there were a little over 126,000 sole proprietorship returns that

indicated status as an LLC, or 0.7% of total sole proprietorship

returns (Figure I). In contrast, for TY 2022, there were 3.5 million such sole proprietorships, which accounted for 11.4% of

the total nonfarm sole proprietorship returns, a nearly 28-fold

increase in the number of returns since 2001. The share of total

nonfarm sole proprietorship business receipts attributed to LLCs

also rose during this period, from approximately 2.3% in 2001

to 35.3% in 2022 (Figure J). Similarly, the portion of total net

income (less deficit) of all nonfarm sole proprietorships attributable to LLCs increased, from 1.0% in 2001 up to 21.1% in 2022.

Total profits in current dollars decreased by 0.2%, from $411.3

billion for TY 2021 to 410.7 billion for TY 2022. Sole proprietorship profits (net income less deficit) decreased across more

than half of sectors analyzed. The professional, scientific, and

technical services sector reported the largest percentage of total

profits of all nonfarm sole proprietorships, with 24.7% ($101.6

billion), and the sector had a $2.5 billion (2.5%) increase in

profits for TY 2022 compared to the previous year. The second

largest sector by profits, construction, reported an increase in

profits over TY 2021, rising 7.5% to $54.2 billion. The largest

percentage increase in profits was realized in the arts, entertainment, and recreation sector, which increased 15.0% for a gain of

$2.0 billion. Figure D presents total profits for all industries (in

both current and constant dollars) since TY 1988, while Figure

F (for 2021 and 2022) presents profits by selected industrial

sector and Figure G presents industrial profits as a percentage

of total profits.10

In constant (2017) dollars, total profits decreased by 6.8%

for 2022, going from $373.2 billion in 2021 to $347.9 billion

[Money amounts are in billions of dollars]

Net income less deficit (profits)

Selected industrial sector

All nonfarm industries

Construction

Wholesale trade (merchant wholesalers)

Retail trade

Transportation and warehousing

Finance and insurance

Real estate and rental and leasing

Professional, scientific, and technical services

Administrative and support and waste

management services

Health care and social assistance

Arts, entertainment, and recreation

Other services

All other sectors

2021

2022

Percentage

change

(1)

411.3

50.4

6.0

17.1

24.9

27.5

46.2

99.1

(2)

410.7

54.2

6.0

13.5

22.7

27.1

36.8

101.6

(3)

-0.2

7.5

-0.2

-21.3

-8.6

-1.5

-20.2

2.5

26.5

29.3

10.8

47.7

13.0

31.6

21.4

50.7

15.0

32.9

20.9

6.2

15.0

4.0

-2.1

NOTES: Detail may not add to totals because of rounding. Percentage changes were calculated before

rounding.

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024.

The SOI sample includes a weighted amount of 38,963 prior-year returns that still had Schedule C-EZ attached. See IRS Publication 1304, Description of the Sample, for an explanation of

prior year returns in the SOI sample.

Net income minus deficit (loss) before federal income tax yields profits. Proprietors compute their tax on total “taxable income,” which includes their business profits, plus any other income.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Figure G

Nonfarm Sole Proprietorships: Selected Industrial Sector Profits as a Percentage of Total Profits, Tax Year 2022

Wholesale trade (merchant wholesalers)

1.5

Retail trade

3.3

Arts, entertainment, and recreation

3.6

All other industries

5.1

Transportation and warehousing

5.5

Finance and insurance

6.6

Administrative and support and waste management services

7.1

Other services

8.0

Real estate and rental and leasing

9.0

Health care and social assistance

12.3

Construction

13.2

Professional, scientific, and technical services

24.7

Percentage of total profits

NOTES: Percentages are based on estimated total profits of $410.7 billion.

Detail may not add to 100 percent because of rounding.

Profits is a designation for "net income less deficit," discussed elsewhere in this article.

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024.

Figure H

Nonfarm Sole Proprietorship Net Income Less Deficit (Profits) as a Percentage of Total Business Receipts, Tax Years 1988–2022

Percentage

23.4

22.4

22.0

21.4

20.9

21.1

20.7

21.9

21.5

21.4

21.5

21.021.0

21.7

23.1

22.6

22.0

21.9

21.7

21.2

21.0

20.8

21.0

20.1

19.4

19.2

23.0

22.3 22.5

22.1

19.9

22.7

19.7

18.8

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Tax year

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Figure I

Nonfarm Sole Proprietorships: Number Filing Returns Registered as a Limited Liability Company (LLC), Tax Years 2001–2022

Tax year

2022

3,547,102

2021

3,144,816

2020

2,783,413

2019

2,460,292

2018

2,119,147

2017

2,066,851

2016

1,868,459

2015

1,715,430

2014

1,619,099

2013

1,474,592

2012

1,324,196

2011

1,125,132

2010

1,059,910

2009

991,809

2008

842,819

2007

746,885

2006

606,889

2005

455,734

2004

309,665

2003

220,615

2002

145,839

2001

126,437

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

Number of returns filed by nonfarm sole proprietorships registered as LLCs

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024

Summary

Income Tax Return (including electronically filed returns)

processed by the Internal Revenue Service during Calendar

Year 2022. Returns in the sample were stratified based on: (1)

the presence or absence of Schedule C, Profit or Loss From

Business (Sole Proprietorship) or Schedule C-EZ, Net Profit

From Business, and Schedule F, Farm Income and Expenses;

(2) the larger of positive income or negative income (i.e., “adjusted gross income” before statutory adjustments); and (3) tax

year. The returns were selected at rates that ranged from 0.1% to

100%. The 2022 nonfarm sole proprietorship data are based on

a sample of 118,695 returns and a population of 31,361,397 returns.11 The corresponding data for 2021 were based on a sample

of 124,469 returns and a population of 29,683,691 returns.

Since the data presented in this article are estimates based on

a sample of returns filed, they are subject to sampling error. To

use the statistical data estimates provided, the magnitude of the

potential sampling error must be known; coefficients of variation (CVs) are used to measure that magnitude. Figure K presents estimated coefficients of variation for total business receipts,

Business receipts for the 31.0 million returns with sole proprietorship activity for TY 2022 increased by 11.4% from TY 2021

to a level of $2,080 billion. The largest industrial sector, based

on business receipts, was the construction sector, accounting for

$377.1 billion in business receipts. The wholesale trade sector

had the largest percentage increase in returns (14.4%), while the

arts, entertainment, and recreation sector had the highest percentage increase in receipts (24.4%). Total nonfarm sole proprietorship profits for 2022 decreased 0.2% to $410.7. The professional, scientific, and technical services sector had the largest

profits of any sector, at $101.6 billion, representing 24.7% of

total sole proprietorship profits, followed by the construction

sector, at $54.2 billion or 13.2% of total profits.

Data Sources and Limitations

The 2022 sole proprietorship estimates are based on a stratified

probability sample of unaudited Forms 1040, U.S. Individual

The difference between the number of returns in the population and the total number of returns in Tables 1 and 2 is mainly due to returns in which Schedule C income was moved to other

income or wages to avoid double counting of taxpayers for Gross Domestic Product calculations. In addition, data from amended and tentative returns are not reflected in these statistics.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Figure J

Number of Returns, Business Receipts, and Profits for All Nonfarm Sole Proprietorships and Those Registered As Limited Liability

Companies (LLC),Tax Years 2001–2022

[Money amounts are in thousands of dollars]

Number of returns

Tax Year

All nonfarm

sole

proprietorships

LLCs percentage

of all

nonfarm sole

proprietorships

(2)

(3)

(1)

Net income less deficit

Total business receipts

Nonfarm sole

proprietorships

registered

as LLCs

All nonfarm

sole proprietorships

Nonfarm sole

proprietorships

registered

as LLCs

LLCs percentage

All nonfarm

of all

nonfarm sole sole proprietorships

proprietorships

(6)

Nonfarm sole

proprietorships

registered

as LLCs

LLCs percentage

of all

nonfarm sole

proprietorships

(9)

(4)

(5)

(7)

(8)

2001

18,338,190

126,437

0.7

1,016,834,678

23,357,818

2.3

217,385,116

2,259,135

1.0

2002

18,925,517

145,839

0.8

1,029,691,760

39,239,656

3.8

221,113,286

3,378,774

1.5

2003

19,710,079

220,615

1.1

1,050,202,446

55,626,849

5.3

230,308,100

3,847,617

1.7

2004

20,590,691

309,665

1.5

1,139,523,760

82,850,651

7.3

247,567,189

6,743,666

2.7

2005

21,467,566

455,734

2.1

1,222,880,231

119,603,018

9.8

269,919,995

10,902,821

4.0

2006

22,074,953

606,889

2.7

1,278,359,791

151,746,232

11.9

278,032,643

14,270,523

5.1

2007

23,122,698

746,885

3.2

1,324,403,080

185,837,712

14.0

280,557,010

16,235,182

5.8

2008

22,614,483

842,819

3.7

1,317,443,005

205,646,039

15.6

264,508,362

18,215,151

6.9

2009

22,659,976

991,809

4.4

1,178,437,093

205,194,197

17.4

244,821,815

18,522,837

7.6

2010

23,003,656

1,059,910

4.6

1,195,538,629

220,116,934

18.4

267,699,702

23,915,511

8.9

2011

23,426,940

1,125,132

4.8

1,265,939,196

244,024,850

19.3

282,649,926

27,093,827

9.6

2012

23,553,850

1,324,196

5.6

1,301,569,749

291,350,534

22.4

304,895,911

35,841,019

11.8

2013

24,074,684

1,474,592

6.1

1,341,571,082

316,224,871

23.6

302,269,621

37,151,475

12.3

2014

24,631,831

1,619,099

6.6

1,393,884,201

342,093,644

24.5

317,058,087

43,427,440

13.7

2015

25,226,245

1,715,430

6.8

1,443,584,972

370,123,809

25.6

331,832,538

48,902,901

14.7

2016

25,525,915

1,868,459

7.3

1,422,204,586

399,904,053

28.1

328,209,453

51,214,709

15.6

2017

26,426,406

2,066,851

7.8

1,531,346,020

449,128,268

29.3

346,241,776

55,889,306

16.1

2018

27,117,163

2,119,147

7.8

1,589,748,596

459,459,012

28.9

348,509,654

55,514,156

15.9

2019

27,817,189

2,460,292

8.8

1,639,728,938

504,169,598

30.7

355,177,263

62,278,066

17.5

2020

28,353,367

2,783,413

9.8

1,605,197,079

518,629,767

32.3

337,201,262

66,352,083

19.7

2021

29,309,596

3,144,816

10.7

1,868,021,679

630,691,672

33.8

411,308,783

83,575,827

20.3

2022

30,983,810

3,547,694

11.5

2,080,716,063

735,461,036

35.3

410,664,065

86,644,820

21.1

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, November 2024.

Figure K

Nonfarm Sole Proprietorships: Coefficients of Variation for Selected Items, by Selected Industrial Sector, Tax Year 2022

[Coefficients of variation are in percentages]

Coefficients of variation

Industrial sector

(NAICS Code range)

All industries (000000-999999)

Construction (236100-238990)

Wholesale trade (423100-425120)

Retail trade (441110-459990)

Transportation and warehousing (481000-493100)

Finance and insurance (522100-525990)

Real estate and rental leasing (531100-533110)

Professional, scientific, and technical services (541100-541990)

Administrative and support and waste management services (551111-562000)

Health care and social assistance (621111-624410)

Arts, entertainment, and recreation (711100-713900)

Other services (811110-813000)

All other industries

Total

business

receipts

Total

business

deductions

Depreciation [1]

Net income

Deficit

(1)

(2)

(3)

(4)

(5)

0.52

1.79

3.88

2.31

1.97

1.94

2.37

1.64

2.50

1.86

2.97

2.31

1.90

0.57

1.87

3.93

2.30

1.94

1.88

2.59

1.97

2.75

1.97

3.02

2.50

1.89

1.39

3.73

8.54

5.44

3.71

7.90

4.32

5.54

5.90

5.61

5.92

5.35

3.40

0.70

2.18

6.14

3.61

2.68

3.53

2.93

1.85

2.74

2.42

3.74

2.46

2.66

1.23

5.20

8.30

4.08

4.06

4.24

4.22

3.92

4.87

5.35

4.93

3.97

3.36

[1] Excludes depreciation claimed on Form 8829, Expenses for Business Use of Your Home.

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns, March 2025.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 1. Nonfarm Sole Proprietorships: Business Receipts, Selected Deductions, Payroll, and Net Income, by

Industrial Sectors, Tax Year 2022

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Businesses with and without net income

Industrial sector

All nonfarm industries

Agriculture, forestry, hunting, and fishing

Number

of returns

Business

receipts

(1)

(2)

Depreciation

deduction [1]

(3)

30,983,810 2,080,716,063

Rent paid

on machinery

and

equipment

(4)

Rent paid

on other

business

property

Interest paid

deduction [2]

(5)

(6)

Net income

less deficit

Payroll [3]

(7)

(8)

79,647,420

15,647,076

49,656,220

12,907,890

175,011,725

410,664,065

332,704

32,203,246

3,441,343

231,201

447,795

373,464

2,566,246

1,188,789

Animal production (including breeding of cats and dogs)

61,287

3,273,188

440,735

8,893

41,990

48,474

216,422

-445,014

Forestry and logging (including forest nurseries, timber tracts)

46,496

9,106,313

1,078,800

69,841

22,145

72,554

807,287

468,455

Fishing, hunting, and trapping

68,248

3,709,236

576,802

32,226

105,005

58,819

94,081

178,772

Support activities for agriculture and forestry

156,672

16,114,508

1,345,006

120,241

278,656

193,617

1,448,456

986,575

87,198

11,727,135

958,081

82,367

43,916

110,114

777,379

1,664,834

Oil and gas extraction

71,045

7,966,805

584,392

43,523

25,976

67,673

329,992

1,295,281

Other mining

5,687

1,049,560

139,765

8,417

6,052

20,617

119,368

26,881

Support activities for mining

10,467

2,710,770

233,925

30,427

11,888

21,824

328,019

342,671

Mining

Utilities

17,944

1,358,343

201,019

41,845

10,765

17,003

132,355

295,235

3,316,895

377,079,631

13,853,153

2,343,685

2,842,893

1,433,836

41,808,113

54,240,343

Construction of buildings

774,100

114,115,732

3,126,173

536,163

632,989

561,947

11,742,732

14,076,231

Heavy and civil engineering construction

64,104

11,118,914

981,488

102,663

95,966

114,453

1,628,020

701,476

2,478,691

251,844,985

9,745,492

1,704,859

2,113,938

757,435

28,437,361

39,462,636

3,759,232

Construction

Specialty trade contractors

Manufacturing

409,621

47,027,416

1,952,111

219,493

1,458,776

313,972

5,852,782

Food manufacturing

58,160

9,069,603

275,473

57,890

456,259

66,758

1,235,831

-97,995

Textile and textile product mills

13,419

1,196,274

24,845

* 5,822

32,055

* 7,410

* 123,741

105,872

Apparel

29,273

1,770,288

26,973

** 5,526

** 102,326

5,554

262,482

137,888

Leather and allied products

7,760

486,071

* 13,740

* 10,500

* 4,997

25,202

Wood products

34,145

4,499,475

278,600

14,430

70,444

16,868

613,820

232,431

-36,601

Paper products

2,038

341,572

* 14,362

* 246

* 2,782

* 525

* 25,509

Printing and related support activities

24,402

1,749,837

73,230

12,744

51,394

19,237

127,985

74,106

Petroleum and coal products

4,721

281,287

* 8,821

* 870

* 1,256

* 26,967

131,806

Chemical manufacturing

22,490

2,637,957

36,690

** 1,460

134,017

5,228

265,373

359,048

Plastic and rubber products

2,366

1,072,341

98,343

* 7,944

25,334

39,231

197,278

148,312

Nonmetallic mineral products

14,262

1,820,892

131,512

17,892

10,264

9,955

249,903

157,694

Primary metal industries

3,467

600,660

* 12,596

* 125

* 6,148

* 892

74,483

49,611

Fabricated metal products

37,303

5,879,147

368,919

15,797

72,684

41,067

822,391

615,825

Machinery

17,291

1,588,346

122,487

3,480

54,506

11,298

209,898

215,203

Computer and electronic products

6,864

929,415

21,194

* 75

40,904

14,224

110,473

64,950

Electrical equipment, appliances, and components

7,909

1,103,286

43,958

* 3,797

52,749

6,967

208,273

28,002

Transportation equipment

19,896

2,108,346

105,912

47,625

17,276

9,411

178,579

195,737

Furniture and related products

25,366

2,057,825

35,530

5,166

140,303

12,728

228,234

479,261

Miscellaneous manufacturing

78,490

7,834,795

258,926

19,472

188,462

34,862

886,565

872,879

Wholesale trade (merchant wholesalers)

416,055

75,534,641

1,314,832

194,951

1,060,324

322,130

3,405,006

5,971,628

Durable goods, including machinery, wood, metals, etc.

186,549

37,347,491

775,579

86,883

487,632

176,356

1,500,854

3,159,339

Nondurable goods, including food, fiber, chemicals, etc.

134,940

27,786,993

403,381

35,603

444,164

133,098

1,422,442

1,679,771

Wholesale electronic markets and agents and brokers

94,565

10,400,157

135,873

72,465

128,528

12,675

481,711

1,132,518

2,402,646

211,839,978

4,039,472

818,345

5,973,808

887,652

11,837,675

13,450,504

2,440,090

Retail trade

Motor vehicle and parts dealers

116,986

48,428,139

685,568

78,526

642,680

196,687

2,287,339

Building material and garden equipment and supplies dealers

46,297

11,140,176

353,448

58,567

203,296

45,920

808,650

956,510

Food and beverage stores

364,472

35,313,607

694,578

147,983

939,041

121,121

2,574,116

1,579,164

Furniture and home furnishing retailers

25,180

4,015,719

59,932

13,393

285,526

11,635

445,233

194,581

Electronic and appliance retailers (including computers)

20,090

3,145,295

38,065

* 88,861

70,656

5,746

218,327

113,616

General merchandise retailers

326,892

17,519,919

231,205

55,265

331,658

60,072

490,816

1,348,341

Health and personal care retailers

235,887

9,600,659

204,142

134,180

275,517

31,624

637,733

526,144

7,238

15,423,234

192,654

24,577

135,063

60,130

610,284

439,083

Clothing and accessories retailers

222,567

13,553,121

252,631

59,065

786,371

61,481

757,069

512,569

Sporting goods, hobby, book, and music retailers

134,848

8,565,515

130,786

8,890

296,973

42,562

541,481

429,286

902,190

45,134,595

1,196,464

149,038

2,007,026

250,674

2,466,627

4,911,120

Gasoline stations

Miscellaneous store retailers

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 1. Nonfarm Sole Proprietorships: Business Receipts, Selected Deductions, Payroll, and Net Income, by

Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Businesses with net income

Industrial sector

All nonfarm industries

Agriculture, forestry, hunting, and fishing

Number

of returns

Business

receipts

(9)

(10)

Depreciation

deduction [1]

(11)

21,967,453 1,725,220,332

Rent paid

on machinery

and

equipment

(12)

Rent paid

on other

business

property

Interest paid

deduction [2]

(13)

41,940,757

10,263,941

(14)

Net income

Payroll [3]

(15)

(16)

34,493,724

6,150,787

126,938,822

543,895,820

192,446

25,137,988

1,641,288

110,022

316,281

161,202

1,840,329

4,333,690

Animal production (including breeding of cats and dogs)

28,917

2,773,415

104,376

* 5,195

* 16,053

16,954

202,332

462,566

Forestry and logging (including forest nurseries, timber tracts)

29,931

6,929,964

595,885

43,924

16,107

41,126

545,889

898,020

Fishing, hunting, and trapping

31,907

2,934,659

275,112

* 889

91,364

18,923

67,592

670,722

Support activities for agriculture and forestry

101,691

12,499,950

665,915

60,014

192,756

84,200

1,024,516

2,302,382

Mining

68,096

8,742,066

411,453

40,091

23,190

43,111

399,194

2,617,410

Oil and gas extraction

56,022

6,071,220

254,600

19,460

13,230

31,122

178,234

2,006,440

Other mining

3,586

539,518

19,610

* 1,343

* 3,320

* 2,119

29,870

145,216

Support activities for mining

8,488

2,131,327

137,243

19,288

6,641

9,870

191,090

465,754

Utilities

13,428

1,170,641

67,196

40,473

6,269

2,289

* 102,933

420,920

2,696,406

328,704,010

9,203,382

1,815,144

2,144,101

932,388

33,407,156

65,451,615

Construction of buildings

643,956

98,570,934

2,141,407

416,985

446,631

379,002

9,245,313

17,212,886

Heavy and civil engineering construction

47,091

8,733,823

545,152

62,565

59,485

60,056

1,251,112

1,385,864

2,005,359

221,399,253

6,516,823

1,335,594

1,637,984

493,330

22,910,731

46,852,865

Construction

Specialty trade contractors

Manufacturing

233,874

35,937,401

945,095

125,349

844,219

160,957

3,998,576

6,765,490

Food manufacturing

27,817

5,616,832

92,566

37,527

216,063

21,262

550,103

653,843

Textile and textile product mills

7,467

1,123,002

* 5,891

* 28,266

* 2,916

* 118,571

177,420

Apparel

13,919

1,336,831

** 26,573

** 4,935

59,684

** 11,558

191,608

274,919

Leather and allied products

* 5,275

* 361,461

* 97,164

Wood products

16,468

3,138,036

91,682

7,127

35,933

6,658

405,785

440,906

Paper products

* 18

* 67,303

* 20

* 34

* 1,694

* 4,416

* 5,842

12,884

1,342,473

15,089

* 2,047

30,713

** 2,636

78,054

241,615

Printing and related support activities

Petroleum and coal products

3,695

240,566

* 6,530

136,395

Chemical manufacturing

17,728

2,478,325

26,983

** 1,105

** 68,716

** 6,085

** 268,235

493,816

Plastic and rubber products

2,126

838,767

* 46,235

* 5,975

* 23,518

* 32,708

* 130,570

187,319

Nonmetallic mineral products

7,536

1,174,204

107,363

** 2,008

4,105

6,525

92,303

273,540

Primary metal industries

1,057

561,205

* 12,197

* 4,256

* 892

* 69,635

82,226

Fabricated metal products

19,660

4,830,842

173,467

10,111

32,757

21,510

639,882

919,114

Machinery

14,676

1,366,068

65,911

* 2,989

49,892

8,026

157,004

302,584

Computer and electronic products

4,669

870,392

9,286

* 25

37,883

* 3,434

92,928

125,994

Electrical equipment, appliances, and components

3,685

964,866

28,951

* 3,797

* 20,067

* 6,560

187,492

79,422

Transportation equipment

11,898

1,813,143

99,214

* 35,457

14,835

7,473

171,947

252,561

Furniture and related products

15,842

1,753,719

20,555

* 2,919

92,701

6,955

196,341

589,351

Miscellaneous manufacturing

47,454

6,059,368

116,582

9,289

123,136

15,760

643,702

1,431,457

Wholesale trade (merchant wholesalers)

237,176

61,130,334

739,516

75,695

662,781

185,520

2,646,599

9,069,736

Durable goods, including machinery, wood, metals, etc.

107,540

30,417,794

465,701

46,208

304,293

107,238

1,086,049

4,441,631

Nondurable goods, including food, fiber, chemicals, etc.

80,075

22,299,426

213,203

19,631

315,362

69,303

1,123,454

2,756,576

Wholesale electronic markets and agents and brokers

49,562

8,413,113

60,612

9,856

43,125

8,978

437,096

1,871,528

1,328,379

174,084,518

2,002,717

495,629

3,934,497

527,863

8,928,021

25,240,562

Motor vehicle and parts dealers

73,015

41,684,756

376,552

46,654

527,176

137,570

1,873,753

3,311,988

Building material and garden equipment and supplies dealers

32,188

9,941,539

261,087

39,223

95,555

34,560

701,585

1,234,702

Food and beverage stores

198,559

28,414,686

307,783

73,877

680,128

68,351

1,824,752

3,675,425

Furniture and home furnishing retailers

13,025

3,121,640

27,559

10,375

190,856

6,604

322,288

340,763

Electronic and appliance retailers (including computers)

10,834

2,615,738

28,026

* 80,632

56,945

5,023

161,966

258,851

General merchandise retailers

177,937

14,340,893

111,430

18,221

232,232

28,313

385,468

2,570,878

Health and personal care retailers

119,979

7,986,788

107,952

101,251

177,012

15,280

422,293

1,487,960

4,977

13,490,195

116,514

21,097

107,762

48,381

499,027

545,742

108,306

10,827,039

73,589

30,241

506,000

36,357

515,830

2,111,463

Retail trade

Gasoline stations

Clothing and accessories retailers

Sporting goods, hobby, book, and music retailers

Miscellaneous store retailers

Footnotes ay end of table.

Statistics of Income Bulletin

65,659

5,587,085

65,595

6,863

181,214

28,818

359,887

983,440

523,902

36,074,159

526,631

67,196

1,179,617

118,606

1,861,173

8,719,348

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 1. Nonfarm Sole Proprietorships: Business Receipts, Selected Deductions, Payroll, and Net Income, by

Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Businesses with and without net income

Industrial sector

Number

of returns

(1)

Business

receipts

Depreciation

deduction [1]

Interest paid

deduction [2]

Net income

less deficit

Payroll [3]

(4)

(5)

(6)

(7)

202,627,407

13,741,868

4,580,841

1,822,809

1,109,759

9,085,098

22,723,135

Air and rail transportation

24,721

2,595,148

831,973

20,207

31,386

79,721

147,421

-574,013

Water transportation

7,973

1,480,042

288,765

2,855

15,455

29,410

242,389

-97,634

Truck transportation

850,683

122,339,108

9,112,665

2,191,201

846,704

699,722

6,582,857

13,174,605

1,173,916

38,766,311

1,233,268

1,654,421

371,206

107,213

236,005

5,805,506

161,903

7,419,902

601,657

262,782

** 108,209

** 33,684

588,453

650,954

Pipeline transportation

1,678

321,458

* 14,599

* 2,419

* 5,566

* 77,106

Scenic and sightseeing transportation

15,996

1,173,659

196,849

48,753

20,232

16,659

43,386

-139,440

Taxi, limousine service, and ridesharing service

Other transit and ground transportation

Support activities for transportation (including motor

vehicle towing)

Couriers and messengers

Warehousing and storage facilities

(3)

Rent paid

on other

business

property

3,775,848

Transportation and warehousing

(2)

Rent paid

on machinery

and

equipment

(8)

95,769

7,679,193

661,412

76,022

121,375

71,051

462,890

829,364

1,406,958

18,797,410

657,122

291,927

174,006

42,574

593,934

2,835,339

36,252

2,055,176

143,558

30,255

134,236

29,725

182,197

161,348

474,727

16,072,057

679,803

134,160

303,751

49,892

1,089,851

4,257,076

Motion picture and sound recording

194,682

6,269,441

372,128

64,636

96,964

15,052

191,048

1,729,489

Publishing industries

32,450

1,372,752

9,522

9,227

20,793

6,366

174,134

429,131

Broadcasting and content providers and telecommunications

154,694

5,191,150

176,921

50,085

112,310

16,464

346,448

1,184,190

Data processing, hosting, and related services

58,644

1,683,740

96,787

7,433

40,412

3,838

171,556

475,597

Web search portals

34,257

1,554,974

24,445

* 2,779

33,271

8,172

206,664

438,669

Finance and insurance

714,448

123,778,874

2,008,083

286,066

1,733,321

1,511,300

5,920,921

27,071,074

Information

Credit intermediation and related activities

49,764

3,626,846

121,102

16,254

43,558

84,057

158,856

1,089,127

Securities, commodity contracts, and other financial investments

220,215

80,008,704

1,038,839

91,333

761,840

1,191,109

2,899,397

11,280,930

Investment banking and securities intermediation

8,431

4,235,118

26,934

2,470

49,953

6,727

163,139

649,028

Commodity contracts intermediation

16,106

1,085,559

191,247

* 5,220

7,518

6,309

31,130

-87,216

Securities and commodity exchanges

10,397

4,490,705

33,147

* 4,809

8,700

6,890

49,360

278,394

Other financial investment activities (investment advice)

185,281

70,197,322

787,511

78,834

695,669

1,171,184

2,655,769

10,440,724

Insurance agents, brokers, and related activities

433,629

39,267,463

839,814

145,097

927,028

228,936

2,834,034

14,592,047

Insurance agencies and brokerages

316,357

30,618,824

640,028

108,288

805,791

204,549

2,508,083

11,107,819

Other insurance related activities and other financial vehicles

117,271

8,648,640

199,786

36,809

121,237

24,387

325,951

3,484,228

Funds, trusts, and other financial vehicles

10,840

875,861

* 8,328

* 33,382

* 896

* 7,198

* 28,634

108,970

1,531,906

125,839,465

7,549,554

539,820

2,078,693

1,675,865

5,115,276

36,846,869

1,433,998

116,626,710

4,492,210

385,292

1,763,106

1,510,883

4,634,779

37,372,225

69,525

5,452,211

911,156

30,620

258,668

388,646

253,263

-80,224

Real estate and rental and leasing

Real estate

Lessors of real estate (including miniwarehouses and self

storage)

Offices of real estate agents, brokers, property managers,

and appraisers

1,078,611

76,936,770

2,531,989

257,591

1,014,876

591,673

2,417,349

30,074,512

Other activities related to real estate

285,862

34,237,729

1,049,065

97,081

489,562

530,565

1,964,166

7,377,938

Rental and leasing services

95,567

9,089,408

3,057,242

154,528

315,568

164,941

480,497

-601,150

Automotive equipment rental and leasing

30,198

1,875,732

818,884

55,537

30,781

33,137

59,201

-186,224

Consumer electronics and appliances rental

1,371

170,633

** 35,450

** 274

** 8,210

** 1,263

** 13,498

73,626

Formal wear and costume rental

* 153

* 41,421

* 8,346

Video tape and disc rental

* 1,648

* 80,443

* 7,257

* -3,785

Home health equipment rental

* 1,020

* 21,650

* -23,024

-83,028

Recreational goods rental

6,919

303,211

63,353

* 1,831

* 86,181

5,921

5,378

All other consumer goods rental

27,033

1,438,299

259,876

36,443

63,480

14,115

82,405

3,812

General rental centers and other consumer goods rental

9,953

670,923

56,732

* 14,756

49,390

5,095

19,845

23,795

Commercial and industrial machinery and equipment rental

and leasing

17,273

4,487,096

1,822,943

45,687

70,270

105,409

300,172

-414,667

2,342

123,347

* 102

* 18

* 40

75,794

Lessors of nonfinancial intangible assets (except copyrighted

works)

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 1. Nonfarm Sole Proprietorships: Business Receipts, Selected Deductions, Payroll, and Net Income, by

Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Businesses with net income

Industrial sector

Number

of returns

Business

receipts

(9)

Transportation and warehousing

Depreciation

deduction [1]

(10)

(12)

(13)

(14)

(15)

1,215,305

582,984

5,912,914

37,842,341

56,426

3,281

14,274

25,682

60,206

489,013

106,385

* 2,298

1,263

8,536

92,895

99,625

1,620,639

590,608

434,617

4,476,357

18,387,469

1,426,791

267,263

25,043

116,707

9,659,650

** 186,589

** 65,699

19,518

** 393,446

1,559,516

* 82,394

* 18,166

* 6,811

* 4,021

* 22,748

91,748

13,084

1,574,369

Water transportation

4,939

653,560

Truck transportation

675,402

101,188,456

5,529,900

Taxi, limousine service, and ridesharing service

835,937

34,590,648

641,629

Other transit and ground transportation

106,232

5,744,784

366,422

Pipeline transportation

* 1,619

* 297,195

* 6,241

4,647

431,533

39,012

Warehousing and storage facilities

Net income

Payroll [3]

3,525,860

Air and rail transportation

Couriers and messengers

Interest paid

deduction [2]

(11)

167,754,364

Support activities for transportation (including motor vehicle

towing)

Rent paid

on other

business

property

7,387,991

2,748,911

Scenic and sightseeing transportation

Rent paid

on machinery

and

equipment

(16)

72,504

5,904,625

305,058

64,097

80,344

23,727

278,183

1,450,735

1,007,757

15,679,757

255,616

190,858

88,642

20,412

344,484

5,692,584

26,792

1,689,438

81,303

13,140

100,399

21,429

127,887

329,606

311,654

13,474,554

386,097

67,289

186,599

31,477

604,374

6,092,539

Motion picture and sound recording

119,638

5,262,880

209,477

18,282

55,010

7,048

83,884

2,565,329

Publishing industries

24,344

1,025,289

5,576

* 3,161

* 8,733

* 2,808

50,686

546,829

Broadcasting and content providers and telecommunications

111,223

4,498,804

131,591

40,893

80,271

12,672

211,001

1,716,640

Data processing, hosting, and related services

37,420

1,406,073

20,931

* 3,128

22,476

1,115

129,437

678,766

Web search portals

19,030

1,281,509

18,522

* 1,824

20,108

* 7,833

129,365

584,976

Finance and insurance

488,408

71,007,482

1,017,315

178,267

1,326,425

333,393

4,151,864

32,216,467

Information

Credit intermediation and related activities

30,937

2,912,930

33,345

14,109

22,449

36,038

104,195

1,393,789

Securities, commodity contracts, and other financial investments

144,550

34,223,861

329,076

53,415

548,918

106,537

1,677,920

14,825,463

Investment banking and securities intermediation

5,601

1,787,574

6,237

* 2,259

38,324

2,612

140,296

791,918

Commodity contracts intermediation

11,503

648,063

35,978

* 4,876

* 5,015

* 595

* 2,378

118,895

Securities and commodity exchanges

7,210

2,044,247

13,454

* 4,800

8,075

1,105

* 17,667

463,620

Other financial investment activities (investment advice)

120,235

29,743,977

273,407

41,480

497,504

102,225

1,517,580

13,451,030

Insurance agents, brokers, and related activities

307,502

33,571,224

651,193

110,737

754,950

190,767

2,368,420

15,810,139

Insurance agencies and brokerages

220,559

26,075,592

489,183

79,729

690,359

174,478

2,112,782

12,001,502

Other insurance related activities and other financial vehicles

86,943

7,495,632

162,010

31,008

64,591

16,289

255,638

3,808,637

Funds, trusts, and other financial vehicles

5,419

299,467

* 3,701

* 109

* 52

* 1,328

187,076

982,896

106,066,015

2,607,797

296,065

1,319,764

597,889

2,958,838

47,255,007

939,681

99,846,293

2,017,294

238,553

1,145,003

534,385

2,675,002

45,738,777

Real estate and rental and leasing

Real estate

Lessors of real estate (including miniwarehouses and self

storage)

33,606

3,614,561

254,368

8,592

98,244

112,594

99,441

1,036,741

Offices of real estate agents, brokers, property managers,

and appraisers

733,357

68,424,331

1,354,672

167,670

751,174

217,947

1,629,172

34,610,107

Other activities related to real estate

172,717

27,807,401

408,254

62,291

295,584

203,844

946,389

10,091,929

Rental and leasing services

41,889

6,099,085

590,401

57,512

174,742

63,464

283,836

1,425,204

Automotive equipment rental and leasing

10,953

1,136,600

118,647

6,880

6,456

14,765

21,846

337,362

Consumer electronics and appliances rental

** 1,647

** 269,166

** 11,318

** 28

** 88,209

** 110

** 11,202

** 104,381

Formal wear and costume rental

Video tape and disc rental

Home health equipment rental

Recreational goods rental

2,333

194,378

* 351

11,936

All other consumer goods rental

11,610

1,147,931

59,215

* 12,845

30,165

4,201

51,771

305,516

General rental centers and other consumer goods rental

4,921

420,648

* 14,164

* 6,993

* 3,469

* 2,737

* 15,383

98,560

Commercial and industrial machinery and equipment rental

and leasing

10,426

2,930,363

386,706

30,766

46,442

41,651

183,635

567,449

1,326

120,636

* 102

* 18

* 40

91,025

Lessors of nonfinancial intangible assets (except copyrighted

works)

Footnotes ay end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 1. Nonfarm Sole Proprietorships: Business Receipts, Selected Deductions, Payroll, and Net Income, by

Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Businesses with and without net income

Industrial sector

Number

of returns

(1)

Business

receipts

Depreciation

deduction [1]

Rent paid

on other

business

property

Interest paid

deduction [2]

Net income

less deficit

Payroll [3]

(3)

(4)

(5)

(6)

3,917,083

247,753,872

6,698,968

1,150,327

5,207,488

1,190,778

20,531,319

101,574,115

Legal services

319,226

40,866,054

456,052

150,432

1,521,851

229,053

4,327,101

18,827,568

Offices of certified public accountants

32,704

3,862,033

78,436

16,669

151,873

13,764

601,224

1,722,199

Other accounting services

351,478

12,833,573

522,718

90,760

370,445

79,021

1,359,526

5,219,695

Architectural, engineering, and related services

289,874

22,694,762

838,031

137,905

368,306

117,965

2,328,533

7,218,243

Architectural services

130,295

10,494,005

441,229

105,279

252,643

69,708

1,217,341

1,985,099

Engineering services

91,737

8,272,899

176,996

27,773

85,883

37,253

774,453

3,558,960

Drafting, building inspections, and geophysical surveying

53,661

2,691,831

125,424

* 4,528

15,255

4,719

185,805

1,277,178

Surveying and mapping (except geophysical) services

9,333

641,917

67,510

* 7,840

* 1,535

* 106,233

268,121

Testing laboratories

4,848

594,109

26,873

* 325

* 6,686

* 4,750

* 44,701

128,885

313,851

13,481,711

473,663

41,305

335,133

48,791

491,438

3,747,986

Professional, scientific, and technical services

Specialized design services

Computer systems design services

(2)

Rent paid

on machinery

and

equipment

(7)

(8)

335,237

16,851,287

390,306

90,831

187,722

63,499

1,731,342

6,673,524

Other professional, scientific, and technical services

2,274,713

137,164,451

3,939,762

622,426

2,272,157

638,686

9,692,154

58,164,900

Management, scientific, and technical consulting services

34,693,630

1,107,857

70,651,823

1,691,576

231,318

1,067,096

272,487

4,642,209

Scientific research and development services

61,446

2,036,709

75,483

12,913

17,035

14,222

66,205

1,033,778

Advertising and related services

163,457

12,251,223

318,214

23,171

127,317

60,002

1,173,626

3,284,210

Market research and public opinion polling

39,319

1,655,809

92,840

* 3,076

22,380

98,409

120,659

515,381

Other miscellaneous services

902,633

50,568,886

1,761,650

351,948

1,038,329

193,565

3,689,456

18,637,900

3,147,581

118,039,416

5,793,340

1,003,005

1,738,475

639,300

12,751,119

29,315,932

8,138

1,215,366

28,052

1,505

21,414

43,044

237,626

21,520

3,109,093

112,375,586

5,259,805

977,493

1,663,667

559,184

11,774,552

29,134,841

30,350

4,448,464

505,482

24,006

53,394

37,073

738,940

159,571

860,324

16,161,135

629,471

133,066

881,510

84,925

1,292,595

4,596,659

Administrative and support and waste management services

Management of companies and enterprises

Administrative and support services

Waste management and remediation services

Educational services

Health care and social assistance

2,420,090

142,267,707

3,668,284

842,750

5,895,539

748,675

21,018,122

50,673,245

Ambulatory health care services

1,439,766

105,434,604

2,678,737

566,631

4,525,061

516,954

15,318,151

39,231,211

Offices of physicians (except mental health specialists)

186,493

28,083,298

523,486

117,407

989,623

83,035

3,589,712

12,431,163

Offices of physicians, mental health specialists

49,408

5,746,982

85,459

16,685

277,071

27,676

417,635

3,434,421

Offices of dentists

68,749

18,359,372

705,566

81,229

808,476

166,341

4,740,497

4,781,649

Offices of chiropractors

24,786

3,603,007

143,292

6,042

355,989

43,899

425,621

1,089,817

Offices of optometrists

11,505

3,828,924

99,181

26,356

232,125

17,169

898,281

748,382

Offices of mental health practitioners and social therapists

305,150

16,759,354

323,653

47,714

728,316

35,803

1,304,001

8,659,232

Offices of podiatrists

Outpatient care centers and other miscellaneous health

practitioners

3,753

942,680

8,617

* 5,314

60,359

3,325

167,011

327,817

253,013

12,015,624

328,331

39,964

591,040

54,660

995,339

4,525,092

Medical and diagnostic laboratories

21,341

1,356,872

57,900

8,850

31,916

2,702

252,064

238,974

Home health care services

460,788

12,766,517

355,957

181,302

384,222

79,140

2,396,624

2,315,433

Other ambulatory health care services (including ambulance

services, blood and organ banks)

54,778

1,971,975

47,294

35,769

65,925

3,204

131,367

679,232

Hospitals

6,184

1,356,507

32,741

11,645

65,282

13,602

449,284

251,373

152,485

10,363,671

345,474

33,944

428,524

124,000

2,433,798

1,631,317

Nursing and residential care facilities

Social assistance

Arts, entertainment, and recreation

Performing arts, spectator sports, and related industries

821,655

25,112,925

611,331

230,530

876,672

94,120

2,816,889

9,559,344

1,806,738

63,987,510

2,991,889

552,507

2,629,650

372,344

3,595,377

14,962,040

13,956,661

1,596,389

48,566,842

1,986,794

** 415,468

1,439,396

252,264

2,087,074

Museums, historical sites, and similar institutions

5,681

258,068

16,175

* 33,692

* 1,159

* 6,898

23,571

Amusement, gambling, and recreation industries

Footnotes at end of table.

204,668

15,162,599

988,920

137,038

1,156,562

118,921

1,501,405

981,807

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 1. Nonfarm Sole Proprietorships: Business Receipts, Selected Deductions, Payroll, and Net Income, by

Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Businesses with net income

Industrial sector

Number

of returns

(9)

Business

receipts

Rent paid

on machinery

and

equipment

Rent paid

on other

business

property

Interest paid

deduction [2]

Net income

Payroll [3]

(11)

(12)

(13)

(14)

2,784,236

223,969,515

4,030,194

668,075

3,871,881

618,532

15,799,166

117,013,275

Legal services

246,887

38,767,128

391,637

116,636

1,341,959

135,025

3,892,389

19,698,650

Offices of certified public accountants

29,552

3,643,250

64,015

12,616

144,339

12,588

511,289

1,793,111

Other accounting services

274,454

11,449,427

372,659

53,428

277,233

57,792

774,321

5,910,014

Architectural, engineering, and related services

205,235

19,952,036

576,824

91,095

279,955

46,194

1,884,039

8,501,831

Professional, scientific, and technical services

(10)

Depreciation

deduction [1]

(15)

(16)

Architectural services

85,479

9,044,719

245,587

73,184

185,509

26,510

978,728

2,717,332

Engineering services

65,117

7,263,985

142,187

13,058

70,952

15,799

569,315

4,047,144

Drafting, building inspections, and geophysical surveying

43,837

2,570,339

116,292

* 4,528

15,253

* 2,054

185,062

1,327,219

Surveying and mapping (except geophysical) services

6,303

636,603

* 67,460

* 7,840

* 1,535

* 106,233

277,260

Testing laboratories

4,498

436,389

* 5,298

* 325

* 402

* 297

* 44,701

132,876

212,122

12,404,451

253,404

29,836

205,292

42,885

404,624

5,034,009

Specialized design services

Computer systems design services

232,435

14,699,909

192,418

28,270

129,922

44,062

1,112,618

8,129,496

1,583,551

123,053,314

2,179,237

336,194

1,493,182

279,985

7,219,885

67,946,164

Management, scientific, and technical consulting services

757,463

63,907,003

827,430

105,991

687,947

108,831

3,295,882

39,914,675

Scientific research and development services

49,511

1,864,088

24,385

* 119

12,033

4,975

37,571

1,225,178

Advertising and related services

117,197

10,601,627

138,109

8,415

60,255

32,095

860,339

4,169,789

Other professional, scientific, and technical services

Market research and public opinion polling

32,110

1,127,127

76,522

* 44

7,555

* 1,065

74,143

628,835

Other miscellaneous services

627,270

45,553,470

1,112,791

221,626

725,392

133,018

2,951,952

22,007,688

2,397,728

99,646,070

3,192,932

557,105

1,098,250

290,723

9,108,721

39,737,442

6,445

268,466

2,898

* 284

* 1,205

* 559

29,754

143,308

2,374,728

96,512,846

2,909,488

543,406

1,065,673

279,401

8,741,712

39,141,266

Administrative and support and waste management services

Management of companies and enterprises

Administrative and support services

Waste management and remediation services

16,555

2,864,758

280,546

13,414

31,372

10,763

337,256

452,868

639,135

13,240,885

254,778

57,251

510,465

31,275

780,155

7,086,041

Health care and social assistance

1,859,627

124,875,255

2,358,462

481,991

4,526,230

481,531

15,722,269

58,436,925

Ambulatory health care services

1,074,256

94,508,225

1,688,820

363,426

3,645,222

337,186

12,470,111

44,543,827

Offices of physicians (except mental health specialists)

145,034

25,560,075

347,746

95,796

842,284

46,792

2,969,201

13,181,917

Offices of physicians, mental health specialists

42,721

5,481,875

77,999

14,203

259,722

24,335

341,991

3,518,067

Offices of dentists

53,134

16,664,849

518,898

78,069

698,263

139,743

4,177,583

5,058,762

Offices of chiropractors

19,863

3,387,631

119,418

4,697

302,790

34,841

369,636

1,175,460

Educational services

Offices of optometrists

10,844

3,156,948

52,568

14,855

180,487

13,330

708,997

800,793

Offices of mental health practitioners and social therapists

246,203

15,546,710

218,131

38,076

671,852

22,278

1,076,680

9,162,679

Offices of podiatrists

Outpatient care centers and other miscellaneous health

practitioners

3,526

881,025

8,236

* 5,314

60,198

3,287

165,680

328,772

189,286

10,472,783

199,132

25,066

429,459

31,980

689,322

5,345,463

Medical and diagnostic laboratories

13,793

1,130,687

17,368

4,748

13,153

2,004

184,598

407,115

Home health care services

313,786

10,514,213

111,722

64,610

142,716

17,830

1,686,068

4,653,335

Other ambulatory health care services (including ambulance

services, blood and organ banks)

36,067

1,711,429

17,601

17,993

44,298

766

100,355

911,465

Hospitals

4,627

572,992

10,497

* 2,911

7,011

8,591

59,797

348,894

100,768

6,811,881

203,022

10,281

184,566

61,994

1,030,551

2,417,121

Nursing and residential care facilities

Social assistance

Arts, entertainment, and recreation

Performing arts, spectator sports, and related industries

679,975

22,982,156

456,123

105,372

689,431

73,761

2,161,810

11,127,084

1,200,044

51,750,106

1,015,966

376,153

1,698,884

135,777

1,980,850

22,638,477

19,881,824

1,063,598

40,562,615

** 734,756

** 288,699

** 1,009,069

81,713

** 1,058,547

Museums, historical sites, and similar institutions

* 3,310

* 222,465

* 52,861

Amusement, gambling, and recreation industries

Footnotes ay end of table.

133,136

10,965,025

281,210

87,454

689,815

54,064

922,304

2,703,792

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 1. Nonfarm Sole Proprietorships: Business Receipts, Selected Deductions, Payroll, and Net Income, by

Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Businesses with and without net income

Industrial sector

Number

of returns

(1)

Accommodation, food services, and drinking places

Accommodation

Business

receipts

(2)

Depreciation

deduction [1]

Rent paid

on machinery

and

equipment

Rent paid

on other

business

property

Interest paid

deduction [2]

Net income

less deficit

Payroll [3]

(3)

(4)

(5)

(6)

768,763

85,658,125

3,744,697

673,966

4,638,350

924,940

15,371,121

(7)

2,644,044

(8)

80,866

8,298,269

1,286,910

64,530

267,949

478,489

1,118,795

-449,642

-342,562

Travel accommodation (including hotels, motels, and bed and

breakfast inns)

51,648

6,572,852

978,033

34,900

199,753

400,835

933,579

RV (recreational vehicle) parks and recreational camps

10,610

1,222,057

210,103

21,241

21,977

40,970

131,360

59,506

Rooming and boarding houses

18,608

503,359

98,775

8,389

46,220

36,683

53,856

-166,586

687,897

77,359,856

2,457,787

609,436

4,370,400

446,451

14,252,327

3,093,686

4,052,693

160,229,048

6,277,770

1,680,744

10,756,669

1,103,202

12,662,433

32,892,780

Restaurants (full & limited service) and drinking places

Other services

Auto repair and maintenance

479,332

39,941,626

1,968,120

460,662

1,786,649

320,431

4,128,329

3,847,555

Automotive mechanical and electrical repair and maintenance

251,294

19,772,564

838,225

318,809

1,005,357

66,170

1,788,469

2,133,318

Automotive body shops

96,154

10,948,853

464,771

68,000

360,817

81,272

1,121,239

1,293,558

Other auto repair and maintenance (including oil change,

lubrication, and car washes)

131,884

9,220,209

665,124

73,853

420,475

172,989

1,218,621

420,679

Miscellaneous repairs

461,716

26,265,095

1,139,168

173,244

638,008

199,543

2,235,513

4,385,877

2,881,004

90,249,494

3,112,903

1,041,140

8,237,169

574,438

6,221,367

23,070,194

Personal and laundry services

Religious, grantmaking, civic, professional and similar

organizations

Unclassified establishments

* Footnotes at end of table.

Statistics of Income Bulletin

230,641

3,772,833

57,578

* 5,699

94,842

8,790

77,225

1,589,154

530,545

21,531,058

103,681

137,938

131,691

38,740

198,936

2,536,533

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 1. Nonfarm Sole Proprietorships: Business Receipts, Selected Deductions, Payroll, and Net Income, by

Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Businesses with net income

Industrial sector

Number

of returns

(9)

Business

receipts

Depreciation

deduction [1]

Rent paid

on machinery

and

equipment

Interest paid

deduction [2]

Net income

Payroll [3]

(11)

(12)

(13)

(14)

(15)

(16)

450,843

61,515,412

1,581,366

376,322

2,829,214

395,387

9,187,230

9,336,807

Accommodation

42,600

5,345,079

430,589

30,397

86,220

163,915

609,722

1,132,338

Travel accommodation (including hotels, motels, and bed and

breakfast inns)

26,630

4,178,275

329,969

9,248

80,169

144,093

481,600

824,366

RV (recreational vehicle) parks and recreational camps

6,480

975,796

84,035

** 21,149

** 6,051

16,884

110,702

242,664

Accommodation, food services, and drinking places

Rooming and boarding houses

Restaurants (full & limited service) and drinking places

Other services

(10)

Rent paid

on other

business

property

9,490

191,008

* 16,586

* 2,937

* 17,420

65,308

408,243

56,170,333

1,150,777

345,925

2,742,994

231,473

8,577,508

8,204,468

48,497,399

2,934,667

136,726,284

3,051,393

884,402

7,927,287

633,794

9,225,072

Auto repair and maintenance

331,994

33,435,774

960,499

315,910

1,403,079

189,560

3,082,127

6,564,690

Automotive mechanical and electrical repair and maintenance

178,305

17,120,422

442,411

237,109

799,191

48,333

1,404,441

3,473,680

Automotive body shops

73,428

9,372,789

300,017

53,915

270,392

25,243

913,721

1,689,383

Other auto repair and maintenance (including oil change,

lubrication, and car washes)

80,262

6,942,563

218,071

24,886

333,496

115,984

763,965

1,401,628

Miscellaneous repairs

319,855

21,781,909

515,718

71,335

427,378

105,517

1,696,917

6,441,839

2,116,394

78,187,901

1,567,721

495,460

6,051,565

333,851

4,403,652

33,395,251

Personal and laundry services

Religious, grantmaking, civic, professional and similar

organizations

Unclassified establishments

166,424

3,320,700

7,455

* 1,696

45,265

* 4,867

* 42,377

2,095,619

399,497

20,287,434

45,820

92,759

52,085

4,693

184,562

3,843,678

* Estimate should be used with caution because of the small number of sample returns on which it is based.

** Data combined to prevent disclosure of taxpayer information.

[1] Includes depreciation claimed on Form 8829, Expenses for Business Use of Your Home.

[2] Interest paid is the sum of mortgage interest and other interest paid on business indebtedness.

[3] Payroll is the sum of salaries and wages plus the cost of labor reported as part of cost of sales and operations.

NOTE: Detail may not add to totals because of rounding.

SOURCE: IRS, Statistics of Income Division, Sole Proprietorship Returns 2022, October 2024.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Agriculture, forestry, hunting and fishing

Net income status, item

All

nonfarm

industries

(1)

Total

Animal

production

(including

breeding

of cats and

dogs)

Forestry

and logging

(including forest

nurseries,

timber tracts)

Fishing, hunting,

and trapping

Support

activities

for

agriculture

and forestry

(2)

(3)

(4)

(5)

(6)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

30,983,810

332,704

61,287

46,496

68,248

156,672

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

2,080,716,063

2,050,190,877

30,525,186

32,203,246

31,431,667

771,579

3,273,188

3,140,632

132,556

9,106,313

8,939,298

167,015

3,709,236

3,534,759

174,478

16,114,508

15,816,979

297,530

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

1,671,944,235

580,186,437

50,176,506

54,128,427

334,331,517

97,740,569

100,114,824

56,305,406

23,427,570

142,521,516

26,462,554

113,514,000

1,014,596

78,238,472

3,701,361

27,628,038

20,140,479

18,555,794

4,265,423

8,642,467

21,035,021

1,782,978

15,647,076

49,656,220

32,130,673

75,868,997

120,883,298

25,331,426

23,676,752

41,645,219

202,412,671

13,548,879

31,040,814

11,614,087

568,593

729,387

8,123,232

894,014

1,971,795

672,932

168,256

1,649,717

182,830

1,541,279

16,608

3,434,733

33,265

597,766

294,902

161,261

139,767

233,697

226,023

6,828

231,201

447,795

1,229,375

1,634,391

1,836,860

447,237

291,111

471,870

4,040,958

108,996

3,722,200

1,005,465

121,771

147,974

596,501

98,820

185,750

145,351

29,894

189,949

74,869

225,014

* 13,696

439,168

2,680

48,070

36,801

25,040

14,313

34,161

49,007

* 136

8,893

41,990

112,727

325,557

68,448

41,919

81,264

111,648

708,101

33,393

8,638,210

3,070,009

92,004

312,913

1,383,447

171,158

1,207,052

96,566

21,834

523,869

26,143

598,739

* 2,336

1,077,429

10,230

220,068

35,044

20,697

24,598

47,956

62,052

3,194

69,841

22,145

448,353

425,568

494,374

106,645

32,804

82,652

1,183,980

27,652

3,532,347

719,817

59,790

32,830

432,523

166,500

125,339

97,165

31,973

219,339

26,532

105,249

574,813

2,717

81,012

25,000

31,251

28,052

30,766

22,678

32,226

105,005

227,694

291,303

61,251

65,397

48,020

72,187

705,669

24,382

15,148,057

6,818,796

295,027

235,669

5,710,761

457,536

453,653

333,851

84,556

716,560

55,287

612,276

* 576

1,343,323

17,638

248,617

198,057

84,273

72,803

120,814

92,287

** 3,499

120,241

278,656

440,602

591,962

1,212,787

233,277

129,024

205,383

1,443,208

23,570

410,664,065

543,908,664

133,244,599

92,081,346

1,188,789

4,333,690

3,144,902

1,180,068

-445,014

462,566

907,580

143,507

468,455

898,020

429,564

224,395

178,772

670,722

491,950

249,666

986,575

2,302,382

1,315,807

562,501

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Mining

Construction

Utilities

Net income status, item

Total

Oil

and

gas extraction

Other

mining

Support

activities for

mining

Total

(7)

(8)

(9)

(10)

(11)

Total

Construction

of buildings

Heavy and

civil

engineering

construction

Specialty

trade

contractors

(12)

(13)

(14)

(15)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

87,198

71,045

5,687

10,467

17,944

3,316,895

774,100

64,104

2,478,691

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

11,727,135

11,174,146

552,989

7,966,805

7,548,679

418,126

1,049,560

1,046,025

3,535

2,710,770

2,579,443

131,327

1,358,343

1,337,852

20,491

377,079,631

373,586,944

3,492,688

114,115,732

112,835,794

1,279,938

11,118,914

11,028,938

89,976

251,844,985

249,722,212

2,122,773

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

10,076,434

2,867,985

282,523

208,775

413,878

180,747

2,005,184

223,122

20,656

337,439

25,156

266,315

693,627

956,491

32,592

126,117

114,218

49,425

35,240

74,874

55,377

2,363

82,367

43,916

173,467

152,938

568,604

283,923

75,336

87,641

2,938,184

12,182

6,688,045

1,709,795

67,484

99,211

82,152

58,681

1,451,480

49,213

8,912

200,646

19,543

138,938

653,238

584,121

13,804

55,195

74,215

39,668

20,987

46,686

30,644

1,836

43,523

25,976

77,272

69,117

230,781

198,732

57,274

44,216

2,336,697

6,227

1,020,519

385,648

133,923

* 60,334

65,398

56,827

176,380

107,214

3,047

42,512

* 1,056

27,247

12,126

139,765

* 980

14,129

10,435

562

* 5,001

15,616

3,873

* 305

8,417

6,052

38,359

17,016

59,033

26,143

1,536

18,363

183,289

2,367,870

772,541

81,116

49,230

266,328

65,238

377,325

* 66,695

8,697

94,281

4,558

100,130

28,264

232,605

17,808

56,793

29,567

9,196

9,251

12,573

20,860

* 222

30,427

11,888

57,836

66,804

278,789

59,048

16,526

25,062

418,198

** 5,955

1,063,852

213,157

* 5,303

* 101,119

* 41,008

52,776

33,450

* 20,498

9,147

51,177

37,188

143,752

199,862

1,754

7,473

15,360

5,454

* 1,047

15,956

9,012

* 323

41,845

10,765

57,868

46,718

31,237

9,602

16,163

30,537

101,437

7,016

322,938,343

143,858,042

6,258,970

26,598,128

39,567,596

52,577,606

25,061,127

6,205,387

1,758,057

24,342,660

1,076,447

46,510,712

106,031

13,760,808

384,376

5,722,342

1,945,565

2,137,908

501,293

932,543

1,762,152

151,818

2,343,685

2,842,893

4,288,563

21,541,039

15,209,984

2,892,823

2,015,864

4,515,410

21,142,529

1,193,060

100,063,080

54,718,361

3,795,171

8,188,119

16,608,789

17,298,155

12,695,996

3,867,870

367,494

5,768,512

429,364

12,410,792

34,534

3,098,319

76,952

1,363,592

604,049

554,050

267,419

294,528

440,077

47,032

536,163

632,989

1,002,323

5,276,581

3,554,613

716,443

501,797

1,166,988

5,947,722

252,386

10,437,003

5,204,555

600,130

1,083,516

1,242,842

1,272,858

1,703,394

698,184

40,019

382,934

58,897

703,767

* 204

980,167

18,473

190,598

135,380

42,383

28,612

85,841

53,737

6,933

102,663

95,966

270,189

353,052

544,504

111,015

169,950

110,675

708,501

37,987

212,438,259

83,935,125

1,863,669

17,326,493

21,715,965

34,006,592

10,661,737

1,639,332

1,350,544

18,191,214

588,185

33,396,153

71,294

9,682,322

288,951

4,168,152

1,206,135

1,541,474

205,262

552,174

1,268,339

97,852

1,704,859

2,113,938

3,016,051

15,911,405

11,110,868

2,065,365

1,344,116

3,237,747

14,486,305

902,687

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

1,664,834

2,617,410

952,576

1,451,551

1,295,281

2,006,440

711,159

1,296,873

26,881

145,216

118,334

43,134

342,671

465,754

123,083

111,544

295,235

420,920

125,685

65,083

54,240,343

65,452,932

11,212,589

8,601,284

14,076,231

17,214,203

3,137,972

2,395,630

701,476

1,385,864

684,388

425,423

39,462,636

46,852,865

7,390,229

5,780,231

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Manufacturing

Net income status, item

Total

Food

manufacturing

Textile

and textile

product mills

(16)

(17)

(18)

Apparel

Leather

and

allied

products

Wood

products

Paper

products

Printing

and related

support

activities

(19)

(20)

(21)

(22)

(23)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

409,621

58,160

13,419

29,273

7,760

34,145

2,038

24,402

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

47,027,416

46,448,766

578,650

9,069,603

8,863,807

205,796

1,196,274

1,194,350

* 1,924

1,770,288

1,766,111

4,177

486,071

485,899

* 172

4,499,475

4,466,594

32,880

341,572

340,022

* 1,550

1,749,837

1,735,600

14,238

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

43,381,831

22,825,472

2,874,106

2,337,376

13,476,576

4,676,114

2,650,190

3,188,890

583,377

1,473,153

363,342

898,479

6,264

1,915,234

155,424

463,031

378,550

179,973

90,271

223,701

336,239

22,947

219,493

1,458,776

604,556

1,954,041

3,515,406

699,617

331,851

901,352

3,560,330

220,954

9,238,670

4,595,920

842,773

122,719

3,036,101

1,132,932

389,868

928,474

159,412

233,892

36,076

120,685

* 2,120

274,593

32,014

77,374

108,235

14,796

21,570

45,188

44,188

2,931

57,890

456,259

128,813

407,932

1,113,112

181,646

56,606

206,208

848,311

12,898

1,090,402

727,016

51,705

* 61,571

530,083

* 78,961

* 50,165

45,468

* 9,678

27,020

* 439

* 15,160

14,376

10,274

4,538

4,079

* 7,410

10,260

* 5,822

32,055

6,027

39,782

* 62,170

23,200

* 6,635

26,140

50,558

* 6,949

1,638,260

699,342

111,928

* 68,853

296,654

** 299,665

** 71,745

137,164

64,934

62,343

** 8,737

41,542

23,651

** 6,966

15,720

16,851

10,618

** 383

5,171

20,381

** 227

** 5,526

** 102,326

12,241

70,318

193,629

26,274

37,806

46,149

156,474

** 17,034

460,869

* 289,019

* 34,423

* 291,221

* 48,964

* 2,167

* 19,416

* 16,650

* 13,740

* 523

* 5,839

* 2,575

* 2,090

* 8,410

* 2,454

* 754

* 3,265

* 4,997

* 846

* 53,723

6,553

22,280

4,267,682

2,834,800

247,439

422,067

1,832,493

285,741

283,350

236,289

17,548

91,541

** 47,898

** 25,900

276,311

6,073

47,411

23,620

11,402

** 4,625

12,248

26,377

1,854

14,430

70,444

95,578

77,638

191,753

61,117

10,899

55,875

241,119

** 21,936

378,173

* 314,170

* 20,504

* 12,445

* 78,099

* 48,251

* 189,387

* 34,515

* 319

* 6,665

* 14,362

* 939

* 3,524

* 2,014

* 145

* 520

* 341

* 69

* 246

* 2,782

* 383

* 943

* 13,064

* 1,525

* 3,424

* 2,408

* 9,614

1,678,390

554,980

61,307

29,847

387,697

63,401

73,404

60,676

15,834

62,508

* 8,671

40,510

68,057

5,502

14,630

19,784

9,564

* 8,630

10,606

33,727

* 1,052

12,744

51,394

21,543

188,936

98,138

20,408

8,403

60,041

323,075

39,650

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

3,759,232

6,765,490

3,006,258

2,289,977

-97,995

653,843

751,838

231,466

105,872

177,420

71,548

31,057

137,888

274,919

137,031

64,586

25,202

* 97,164

71,962

* 8,243

232,431

440,906

208,475

91,789

-36,601

* 5,842

* 42,443

* 8,973

74,106

241,615

167,509

54,014

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Manufacturing—continued

Net income status, item

Petroleum

and coal

products

Chemical

manufacturing

Plastic

and rubber

products

(24)

(25)

(26)

Nonmetallic

mineral

products

Primary

metal

industries

Fabricated

metal

products

Machinery

Computer and

electronic

products

(27)

(28)

(29)

(30)

(31)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

4,721

22,490

2,366

14,262

3,467

37,303

17,291

6,864

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

281,287

279,857

* 1,430

2,637,957

2,491,360

146,596

1,072,341

1,069,137

3,204

1,820,892

1,762,624

58,267

600,660

598,607

* 2,053

5,879,147

5,865,615

13,532

1,588,346

1,568,993

19,353

929,415

926,094

* 3,321

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

149,461

* 53,820

* 21,006

* 21,114

* 11,834

* 194

* 8,487

* 7,903

* 8,821

* 2,100

1,590

* 337

* 1,234

* 317

* 870

* 1,604

* 22,646

* 5,961

1,868

* 284

* 2,104

26,022

2,278,644

1,290,867

123,816

95,112

** 935,129

132,730

121,170

** 117,224

39,107

33,725

66,007

72,348

** 2,835

36,078

** 9,556

22,284

23,443

14,214

** 2,508

3,221

24,411

** 2,459

** 1,460

134,017

15,008

76,223

170,261

21,301

13,120

55,845

146,429

** 5,696

923,955

478,331

* 52,619

* 158,168

78,691

140,353

151,366

102,865

26,915

8,900

* 9,624

98,343

3,183

13,220

6,149

3,263

38,752

1,316

* 232

* 7,944

25,334

9,748

33,455

39,110

49,097

5,695

16,986

42,821

* 5,057

1,667,881

817,694

24,827

131,973

358,026

140,884

181,062

19,079

9,343

32,822

* 6,504

79,767

** 142

131,108

17,799

28,163

19,078

8,485

* 4,127

5,828

16,983

* 1,028

17,892

10,264

34,005

63,881

117,930

23,774

10,142

25,650

180,680

* 4,794

551,050

422,084

* 34,177

* 60,664

297,996

* 33,555

* 32,124

* 36,432

10,148

11,989

* 359

* 12,596

* 650

1,840

2,964

3,444

* 772

1,789

* 328

* 125

* 6,148

* 649

17,824

* 13,818

4,400

2,894

4,161

31,796

5,263,322

2,867,588

275,137

384,221

1,373,073

952,967

234,999

352,809

33,551

102,805

7,415

** 98,101

366,623

16,518

58,129

27,792

22,874

** 16,896

24,290

33,398

5,648

15,797

72,684

80,925

439,578

438,170

86,043

14,518

97,679

330,117

* 6,453

1,373,142

393,040

121,039

28,416

231,030

91,626

40,579

119,649

17,001

87,015

44,201

63,757

120,633

16,963

18,291

12,207

7,564

* 930

10,369

7,073

* 1,260

3,480

54,506

13,483

47,520

181,482

24,449

14,242

39,817

178,174

* 15,686

868,242

593,206

88,823

55,001

408,314

* 26,317

105,726

90,974

4,496

8,065

* 27,005

20,023

20,953

* 3,075

2,493

12,808

1,506

** 13,124

3,585

2,874

** 965

* 75

40,904

2,910

6,141

55,472

8,386

4,599

7,107

25,108

* 6,043

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

131,806

136,395

* 4,589

21,309

359,048

493,816

134,768

99,294

148,312

187,319

39,007

172,460

157,694

273,540

115,846

45,406

49,611

82,226

* 32,615

17,138

615,825

919,114

303,288

167,118

215,203

302,584

87,381

48,116

64,950

125,994

61,044

40,557

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Manufacturing—continued

Net income status, item

Electrical

equipment,

appliances,

and

components

(32)

Wholesale trade (merchant wholesalers)

Transportation

equipment

Furniture

and related

products

Miscellaneous

manufacturing

Total

(33)

(34)

(35)

(36)

Nondurable

Durable goods,

goods,

including

including food,

machinery,

fiber,

woods, metals,

chemicals,

etc.

(37)

(38)

Wholesale

electronic

markets

and agents

and

brokers

(39)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

7,909

19,896

25,366

78,490

416,055

186,549

134,940

94,565

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

1,103,286

1,086,091

17,195

2,108,346

2,099,399

8,947

2,057,825

2,056,560

1,264

7,834,795

7,792,044

42,750

75,534,641

75,035,590

499,051

37,347,491

37,112,006

235,484

27,786,993

27,599,905

187,088

10,400,157

10,323,678

76,478

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

1,075,284

595,368

72,814

* 76,725

271,028

194,494

65,741

85,433

19,345

19,718

* 4,512

* 7,900

43,870

* 11,940

13,719

6,085

1,190

4,482

15,117

* 3,797

52,749

5,749

50,662

131,548

17,802

7,263

24,378

34,819

* 590

1,912,692

865,291

83,117

153,488

392,329

* 104,121

235,447

103,211

19,077

234,774

* 8,235

119,212

105,695

1,500

37,595

6,838

22,350

* 6,089

3,322

10,624

* 400

47,625

17,276

60,231

46,209

25,092

15,580

17,898

42,167

189,207

* 10,404

1,578,558

661,314

135,815

112,282

345,742

161,908

33,978

128,411

30,591

98,765

11,764

42,393

33,852

3,464

29,539

9,069

7,453

* 2,193

10,535

29,796

* 69

5,166

140,303

47,676

82,863

115,952

21,823

14,368

45,401

123,187

* 11,023

6,987,152

3,771,621

491,843

342,819

2,332,870

767,094

378,245

541,251

103,718

322,705

85,519

117,006

* 1,167

251,572

19,282

66,201

69,648

34,113

7,105

27,756

54,811

4,428

19,472

188,462

67,228

278,224

543,746

110,077

49,330

136,681

600,538

56,742

69,612,862

49,703,780

6,232,244

1,003,087

44,418,017

4,436,934

3,960,763

10,347,264

607,291

1,607,883

718,759

934,634

4,144

1,293,328

84,181

398,248

398,178

275,061

70,374

251,755

481,453

43,974

194,951

1,060,324

557,599

1,460,389

2,401,920

574,361

524,982

687,112

5,123,949

154,232

34,202,028

24,621,283

3,065,700

265,926

20,296,856

2,376,836

2,193,958

3,577,993

270,016

706,881

363,405

493,250

* 1,611

763,677

48,104

234,021

167,415

125,127

39,032

137,324

156,469

13,868

86,883

487,632

322,895

722,891

1,234,928

304,167

255,846

335,407

2,237,582

72,314

26,126,429

19,247,135

2,920,626

384,353

19,557,376

1,409,307

1,434,701

6,459,228

212,096

626,234

140,648

300,548

2,534

398,272

30,026

132,221

172,299

86,661

29,207

103,891

206,791

23,223

35,603

444,164

153,504

381,722

1,038,089

218,880

158,830

268,285

1,664,191

51,375

9,284,405

5,835,362

245,918

352,808

4,563,785

650,790

332,105

310,043

125,178

274,768

214,706

140,836

131,379

6,051

32,005

58,464

63,273

* 2,135

10,540

118,192

6,883

72,465

128,528

81,200

355,776

128,903

51,315

110,305

83,420

1,222,176

30,543

28,002

79,422

51,420

19,223

195,737

252,561

56,825

72,166

479,261

589,351

110,090

90,348

872,879

1,431,457

558,577

1,006,715

5,971,628

9,069,736

3,098,108

2,013,814

3,159,339

4,441,631

1,282,293

1,011,103

1,679,771

2,756,576

1,076,805

678,119

1,132,518

1,871,528

739,010

324,593

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Retail trade

Total

Motor

vehicle and

parts

dealers

Building

material and

garden

equipment and

supplies

dealers

Food and

beverage

stores

Furniture and

home

furnishing

retailers

Electronics

and

appliance

retailers

(including

computers)

General

merchandise

retailers

Health and

personal care

retailers

(40)

(41)

(42)

(43)

(44)

(45)

(46)

(47)

Net income status, item

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

2,402,646

116,986

46,297

364,472

25,180

20,090

326,892

235,887

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

211,839,978

209,913,771

1,926,207

48,428,139

47,896,588

531,552

11,140,176

11,093,015

47,161

35,313,607

34,797,679

515,928

4,015,719

3,997,378

18,340

3,145,295

3,132,974

12,321

17,519,919

17,416,332

103,587

9,600,659

9,438,747

161,912

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

198,538,860

126,633,350

22,328,963

1,993,367

111,333,666

8,029,616

7,167,907

24,220,168

3,000,827

5,780,728

2,294,398

2,759,651

35,326

3,944,958

245,523

1,358,428

1,230,688

802,293

256,408

631,243

1,994,715

70,462

818,345

5,973,808

1,656,244

5,599,736

9,844,308

2,919,303

1,403,141

3,782,040

14,637,004

865,932

46,013,502

36,429,621

5,533,745

577,314

32,372,284

1,511,275

2,465,056

6,030,053

275,517

629,023

194,210

563,623

* 272

681,355

67,737

269,981

134,786

66,223

45,386

151,300

197,372

6,085

78,526

642,680

312,759

571,724

1,710,025

415,028

91,541

355,433

2,084,422

38,873

10,196,463

6,593,204

957,813

155,841

5,389,104

1,026,784

237,556

1,173,893

90,850

306,452

69,499

339,940

* 4,641

350,407

30,773

110,317

48,298

32,995

13,179

32,741

73,873

4,587

58,567

203,296

89,795

220,947

652,809

166,903

32,557

131,335

523,569

14,928

33,774,475

20,835,355

1,899,424

131,500

18,639,470

1,381,491

815,346

2,031,875

374,206

1,010,957

258,219

470,423

4,081

681,966

30,171

244,195

207,327

160,698

42,788

78,334

200,426

8,953

147,983

939,041

431,756

1,023,208

2,442,616

594,464

256,932

848,848

2,373,131

108,396

3,838,967

2,190,644

479,347

195,397

1,716,053

295,449

104,944

600,546

79,817

69,579

18,592

58,826

57,376

9,173

37,940

16,306

14,791

2,271

9,364

38,532

* 1,570

13,393

285,526

46,994

115,874

249,836

99,245

29,691

85,789

289,279

18,557

3,033,012

1,854,250

189,068

* 3,855

1,579,652

* 105,761

175,798

199,883

26,786

67,821

30,145

121,934

* 21

37,583

2,990

14,543

12,091

7,540

* 663

5,083

26,589

* 271

* 88,861

70,656

15,904

118,136

214,472

67,757

17,143

43,771

162,488

* 25,512

16,209,942

8,447,586

1,076,827

173,634

7,295,869

234,854

873,034

1,206,632

500,802

595,833

550,207

193,147

208,825

5,362

77,610

128,936

72,958

16,097

43,975

385,651

* 2,914

55,265

331,658

88,361

960,197

317,182

168,343

139,128

310,481

2,456,852

152,575

9,075,223

4,651,580

608,667

16,786

4,073,602

418,409

124,815

590,699

266,355

314,568

100,257

136,881

* 4,770

195,183

13,097

49,653

113,224

82,894

12,664

18,960

145,102

3,973

134,180

275,517

38,422

402,763

620,947

151,928

190,521

209,517

823,359

118,908

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

13,450,504

25,241,131

11,790,627

6,647,747

2,440,090

3,311,988

871,898

1,423,606

956,510

1,234,702

278,192

236,458

1,579,164

3,675,425

2,096,262

868,311

194,581

340,763

146,182

126,218

113,616

258,851

145,234

21,673

1,348,341

2,570,878

1,222,538

492,733

526,144

1,488,529

962,384

506,576

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Retail trade—continued

Net income status, item

Transportation and warehousing

Gasoline

stations

Clothing and

accessories

retailers

Sporting

goods,

hobby, book,

and music

retailers

Miscellaneous

store retailers

Total

Air and

rail

transportation

Water

transportation

Truck

transportation

(48)

(49)

(50)

(51)

(52)

(53)

(54)

(55)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

7,238

222,567

134,848

902,190

3,775,848

24,721

7,973

850,683

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

15,423,234

15,263,596

159,638

13,553,121

13,372,094

181,027

8,565,515

8,470,012

95,503

45,134,595

45,035,357

99,238

202,627,407

200,735,991

1,891,415

2,595,148

2,436,638

158,510

1,480,042

1,416,536

63,506

122,339,108

121,705,789

633,318

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

14,987,537

12,847,708

265,832

16,306

12,701,530

85,178

104,084

325,221

20,185

36,000

9,522

22,943

1,602

192,633

6,757

62,720

26,251

2,393

30,242

29,887

12,994

2,839

24,577

135,063

107,835

53,034

593,978

164,125

3,605

116,240

483,916

488

13,036,732

6,875,776

1,890,451

102,598

6,176,915

464,182

382,138

2,140,508

407,860

396,802

272,905

151,175

** 15,539

247,105

12,682

77,053

110,384

69,427

11,263

50,218

203,986

* 727

59,065

786,371

117,773

599,661

654,472

278,053

139,456

359,392

1,087,967

56,330

8,134,428

4,919,012

1,709,004

71,525

4,594,260

253,024

209,240

1,918,040

140,085

308,150

66,356

96,039

124,416

9,707

56,342

64,303

25,104

* 2,287

40,275

143,205

3,291

8,890

296,973

41,706

198,127

469,957

117,173

37,583

185,231

744,803

30,701

40,238,581

20,988,614

7,718,785

548,613

16,794,929

2,253,209

1,675,896

8,002,817

818,363

2,045,545

724,487

604,719

* 4,399

1,168,109

57,075

358,074

368,783

267,269

79,567

171,107

566,983

35,252

149,038

2,007,026

364,939

1,336,066

1,918,015

696,283

464,984

1,136,002

3,607,216

300,665

180,269,096

16,859,077

594,470

3,337,591

5,398,215

1,423,815

6,629,090

524,104

611,769

51,852,988

5,118,835

15,800,961

24,160

13,726,526

231,247

6,725,221

1,012,318

4,062,749

293,484

816,274

1,052,291

41,122

4,580,841

1,822,809

10,238,851

4,665,841

5,747,507

2,055,948

2,455,048

3,491,239

26,567,428

410,680

3,215,182

431,084

6,538

17,313

217,876

31,398

163,270

5,310

17,822

176,225

16,560

140,171

* 177

831,973

9,769

66,111

29,238

18,057

22,505

57,216

45,399

1,076

20,207

31,386

192,295

105,461

130,108

32,793

181,810

29,177

626,265

* 2,299

1,634,601

670,547

93,446

* 21,560

19,091

540,904

3,124

35,457

9,053

24,060

288,763

41,925

26,369

8,801

5,961

9,550

19,860

3,635

2,855

15,455

58,361

28,862

148,943

20,345

9,729

9,164

191,075

* 2,502

109,208,110

11,751,629

** 143,765

2,819,882

3,846,676

921,309

4,178,696

** 163,152

228,847

28,075,202

1,426,581

13,473,387

** 8,230

9,104,674

127,873

5,032,602

479,523

2,966,002

138,880

560,842

517,376

** 24,755

2,191,201

846,704

7,796,929

2,678,837

3,762,975

1,375,999

1,572,353

1,430,494

13,436,356

200,064

439,083

545,742

106,660

149,206

512,569

2,111,463

1,598,894

534,271

429,286

983,440

554,154

255,198

4,911,120

8,719,348

3,808,228

2,033,498

22,723,135

37,850,839

15,127,704

5,255,319

-574,013

489,013

1,063,026

929,656

-97,634

99,625

197,259

79,299

13,174,605

18,387,469

5,212,865

2,295,782

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Transportation and warehousing—continued

Net income status, item

Taxi, limousine

service, and

ridesharing

service

Other transit

and ground

transportation

(56)

(57)

Pipeline

transportation

Scenic

and

sightseeing

transportation

Support

activities for

transportation

(including

motor vehicle

towing)

Couriers

and

messengers

Warehousing

and

storage

facilities

(58)

(59)

(60)

(61)

(62)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

1,173,916

161,903

1,678

15,996

95,769

1,406,958

36,252

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

38,766,311

38,297,371

468,940

7,419,902

7,331,822

88,080

321,458

315,695

* 5,763

1,173,659

1,077,507

96,153

7,679,193

7,409,873

269,320

18,797,410

18,699,710

97,700

2,055,176

2,045,050

10,126

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

33,135,494

372,745

65,881

* 55,820

95,806

34,638

159,118

38,518

108,632

12,046,917

2,950,115

296,653

* 12,703

1,230,127

14,754

721,847

275,220

600,783

62,642

44,571

198,504

1,654,421

371,206

992,566

686,748

180,185

276,159

305,933

963,587

8,702,817

60,696

6,775,187

** 587,829

* 112,975

105,487

** 326,281

** 32,506

119,609

* 109,029

53,958

1,736,528

** 282,432

** 414,562

* 1,346

600,418

** 6,826

230,862

36,574

81,576

** 11,683

** 22,002

57,180

** 5,685

262,782

** 108,209

233,015

211,396

482,966

90,860

108,325

130,705

1,023,429

15,828

244,352

* 5,157

* 80,454

* 14,599

** 668

* 5,205

* 719

* 10,196

* 1,524

* 2,419

* 60,082

* 12,664

* 5,566

* 5,113

* 12,400

* 2,765

* 7,997

1,308,756

97,329

* 20,763

* 2,841

* 11,366

26,562

48,947

* 13,151

21,926

85,430

12,666

271,603

196,840

* 423

47,758

10,965

6,662

3,986

12,673

9,790

48,753

20,232

97,307

69,221

40,545

48,519

9,934

13,039

182,217

* 16

6,856,164

1,499,832

100,439

59,311

415,120

299,110

710,136

84,285

96,111

894,040

106,239

521,869

661,082

12,795

243,790

58,261

69,282

23,033

48,018

64,935

** 1,901

76,022

121,375

345,071

348,661

403,579

82,245

96,223

145,521

875,370

61,569

15,997,377

991,225

101,898

177,084

304,556

36,048

427,829

* 56,190

64,021

8,484,869

306,536

524,101

** 1,703

654,501

12,561

319,046

93,031

286,687

* 8,697

33,877

135,841

* 7,073

291,927

174,006

421,574

436,857

416,850

91,019

141,594

714,019

1,319,860

62,280

1,893,872

456,858

42,211

* 6,408

158,973

23,153

280,582

54,469

12,170

237,866

8,654

134,554

143,548

3,653

31,631

19,986

17,543

12,508

17,217

18,106

* 633

30,255

134,236

41,650

87,134

175,789

32,896

16,746

52,768

202,042

* 5,427

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

5,805,506

9,659,650

3,854,143

832,377

650,954

1,559,516

908,562

186,059

* 77,106

* 82,394

* 5,288

* 12,956

-139,440

91,748

231,188

68,969

829,364

1,450,735

621,372

205,896

2,835,339

5,701,082

2,865,743

518,144

161,348

329,606

168,258

126,180

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Information

Net income status, item

Total

Motion

picture and

sound

recording

(63)

(64)

Finance and insurance

Publishing

industries

Broadcasting

and content

providers and

telecommunica

tions

Data

processing,

hosting, and

services

Web search

portals

Total

Credit

intermediation

and related

activities

(65)

(66)

(67)

(68)

(69)

(70)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

474,727

194,682

32,450

154,694

58,644

34,257

714,448

49,764

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

16,072,057

15,800,201

271,856

6,269,441

6,193,476

75,965

1,372,752

1,344,803

27,950

5,191,150

5,033,349

157,801

1,683,740

1,677,084

6,655

1,554,974

1,551,489

3,485

123,778,874

120,419,627

3,359,247

3,626,846

3,546,077

80,769

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

11,940,561

2,033,813

135,333

144,913

872,301

178,477

865,905

163,114

422,447

722,916

262,776

1,303,895

* 15

663,696

38,913

118,335

271,507

215,966

9,955

39,936

280,026

3,217

134,160

303,751

75,909

443,011

944,938

155,210

422,026

377,498

2,401,831

292,380

4,546,598

578,493

61,631

* 13,700

140,389

42,096

394,402

73,725

88,724

291,584

128,899

573,933

365,049

4,632

38,877

102,153

96,072

** 1,631

13,467

91,542

* 432

64,636

96,964

27,641

215,102

177,348

36,821

249,953

131,224

1,037,057

131,974

1,030,443

267,659

15,423

* 48,185

82,904

* 2,299

142,344

23,495

18,487

32,620

71,721

47,786

8,041

8,972

7,199

18,895

6,721

6,320

32,182

* 195

9,227

20,793

2,892

8,649

125,949

25,092

23,091

36,857

239,654

11,394

4,031,845

724,916

36,779

* 16,758

449,153

107,479

154,910

40,163

217,728

263,240

44,084

482,429

* 14

173,979

12,027

57,491

92,902

83,110

* 762

15,702

71,830

* 429

50,085

112,310

25,005

146,818

329,690

57,801

108,188

132,554

710,407

118,344

1,208,144

186,570

* 11,099

* 10,934

* 126,464

* 10,878

42,002

* 14,807

42,694

98,181

8,695

80,257

95,725

4,527

7,252

19,217

16,691

* 426

3,412

43,976

* 353

7,433

40,412

14,266

25,802

160,622

16,550

16,367

46,417

257,907

14,392

1,123,531

276,176

* 10,401

* 55,335

73,391

* 15,726

132,247

* 10,924

54,813

37,291

* 9,378

119,489

20,901

8,755

7,517

38,340

13,372

* 7,137

1,035

40,496

* 1,809

* 2,779

33,271

6,105

46,640

151,329

18,946

24,427

30,446

156,805

16,276

96,629,472

43,221,906

1,117,748

265,240

25,220,052

214,048

16,883,346

478,528

1,321,173

2,718,861

4,678,534

2,551,055

7,080

1,942,153

203,752

691,145

1,285,825

776,037

92,527

1,418,772

1,158,047

209,348

286,066

1,733,321

344,040

715,354

5,655,682

784,853

1,120,250

1,387,758

21,840,080

485,853

2,536,079

464,959

92,015

* 13,714

300,163

90,028

73,146

104,108

71,302

127,312

204,155

206,035

* 30

116,819

6,977

19,332

48,782

31,457

9,667

74,389

45,380

8,232

16,254

43,558

23,039

63,236

145,142

26,096

23,158

59,456

669,125

32,185

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

4,257,076

6,092,539

1,835,463

1,121,253

1,729,489

2,565,329

835,839

469,163

429,131

546,829

117,698

115,087

1,184,190

1,716,640

532,450

282,566

475,597

678,766

203,169

142,482

438,669

584,976

146,308

111,956

27,071,074

32,216,467

5,145,392

6,058,105

1,089,127

1,393,789

304,662

508,343

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Finance and insurance —continued

Securities, commodity contracts, and other financial investments

Net income status, item

Total

Investment

banking

and securities

intermediation

(71)

(72)

Insurance agents, brokers, and related activities

Other financial

Commodity

investment

Securities and

contracts

activities

commodity

intermediation

(investment

exchanges

advice)

(73)

(74)

(75)

Total

Insurance

agencies and

brokerages

Other

insurance

activities

and other

financial

vehicles

(76)

(77)

(78)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

220,215

8,431

16,106

10,397

185,281

433,629

316,357

117,271

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

80,008,704

77,711,228

2,297,476

4,235,118

4,211,670

23,448

1,085,559

955,173

130,386

4,490,705

4,331,127

159,577

70,197,322

68,213,258

1,984,065

39,267,463

38,368,671

898,792

30,618,824

29,896,334

722,489

8,648,640

8,472,337

176,303

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

68,623,302

40,627,671

936,451

62,239

24,331,520

47,757

15,553,571

303,865

335,796

467,474

2,039,366

1,323,005

6,088

1,011,060

117,540

178,437

867,529

247,277

23,821

1,167,289

395,241

124,660

91,333

761,840

120,305

289,381

2,837,159

324,886

456,478

411,279

14,222,489

175,900

3,586,090

1,917,652

* 98,559

* 5,535

1,520,452

* 216

297,067

* 4,177

17,789

22,373

159,515

37,069

26,088

2,085

2,905

28,952

10,994

* 281

6,446

7,454

1,486

2,470

49,953

6,082

4,801

157,604

11,627

22,575

12,972

1,070,036

6,870

1,179,917

702,129

* 65,964

** 3,260

252,488

** 5,423

396,139

** 16,681

7,717

3,439

* 32,998

20,248

** 1,757

184,945

* 969

2,322

6,497

1,507

* 1,658

4,651

3,985

** 173

* 5,220

7,518

3,620

22,328

31,096

1,955

3,952

69,457

55,364

6,325

4,212,310

3,483,647

* 259

1,916,734

1,562,188

3,314

27,263

145,704

20,693

33,001

1,399

4,058

8,094

8,729

* 1,045

5,845

23,754

* 4,809

8,700

2,380

4,871

46,134

3,930

9,483

13,855

341,621

8,081

59,644,984

34,524,244

771,668

53,444

20,641,845

42,118

13,298,176

283,007

306,975

414,399

1,701,149

1,244,995

4,332

767,026

113,088

169,152

823,986

226,047

20,837

1,150,347

360,048

123,001

78,834

695,669

108,223

257,381

2,602,325

307,374

420,468

314,995

12,755,468

154,623

24,703,201

1,687,015

60,058

164,694

298,927

74,250

1,149,800

60,715

906,447

2,117,585

2,420,418

1,021,559

* 961

805,945

79,214

487,237

364,419

493,689

58,528

170,408

714,124

76,456

145,097

927,028

199,789

352,837

2,669,340

432,706

632,298

892,079

6,772,004

276,016

19,525,395

1,038,973

57,613

* 149,314

233,375

42,573

609,971

* 53,873

746,198

1,446,619

1,944,161

810,499

* 911

616,221

65,518

405,574

274,886

395,075

48,388

156,161

600,250

51,817

108,288

805,791

156,579

267,119

2,358,769

362,934

420,925

698,930

5,550,796

194,016

5,177,805

648,042

* 2,446

* 15,380

65,553

* 31,676

539,830

* 6,843

160,249

670,966

476,257

211,060

* 50

189,724

13,697

81,664

89,533

98,615

10,140

14,247

113,874

24,640

36,809

121,237

43,210

85,718

310,571

69,772

211,373

193,149

1,221,208

82,000

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

11,280,930

14,825,463

3,544,533

2,145,241

649,028

791,918

142,890

74,141

-87,216

118,895

206,111

47,863

278,394

463,620

185,226

37,534

10,440,724

13,451,030

3,010,306

1,985,703

14,592,047

15,810,139

1,218,092

3,367,165

11,107,819

12,001,502

893,683

2,282,885

3,484,228

3,808,637

324,409

1,084,280

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Real estate and rental and leasing

Finance and

insurance—continued

Real estate

Net income status, item

Funds, trusts,

and other financial

vehicles

(79)

Total

(80)

Total

Lessors of

real estate

(including

miniwarehouses

and self storage)

Offices of real

estate agents,

brokers, property

managers and

appraisers

Other

activities related

to real estate

(81)

(82)

(83)

(84)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

10,840

1,531,906

1,433,998

69,525

1,078,611

285,862

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

875,861

793,651

* 82,210

125,839,465

122,686,269

3,153,196

116,626,710

113,802,396

2,824,315

5,452,211

5,242,084

210,127

76,936,770

75,802,010

1,134,760

34,237,729

32,758,301

1,479,428

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

766,890

* 442,261

* 29,224

* 24,593

* 289,442

* 2,013

* 106,828

* 9,840

7,628

* 6,489

* 14,594

* 456

* 8,328

* 21

6,138

5,094

* 3,614

* 511

* 6,687

3,302

* 33,382

* 896

* 907

9,901

* 4,042

1,164

8,316

24,944

176,463

* 1,752

89,294,766

22,744,652

3,659,465

850,349

9,300,201

2,865,805

10,056,776

3,987,945

2,946,309

7,104,972

4,805,015

3,949,523

9,096

7,405,347

242,250

1,031,888

2,092,942

1,398,502

922,738

753,127

1,656,191

80,373

539,820

2,078,693

1,814,946

1,885,391

4,264,926

1,479,212

1,367,907

2,514,084

15,119,708

1,087,155

79,431,822

19,913,474

3,248,444

774,365

7,552,159

2,612,980

9,363,055

3,637,528

2,847,006

6,705,082

4,744,198

3,682,484

6,895

4,350,729

216,210

870,558

2,012,632

1,357,556

877,185

633,698

1,592,720

77,843

385,292

1,763,106

1,529,420

1,622,513

3,860,414

1,326,547

1,288,692

2,401,221

14,290,141

1,076,205

5,565,220

989,160

121,466

23,902

422,640

518,004

114,898

211,749

52,236

186,111

91,010

384,683

907,414

14,595

107,436

123,754

34,548

348,772

39,873

53,017

2,636

30,620

258,668

272,454

140,017

229,362

280,801

65,246

227,750

711,548

12,636

46,957,357

6,499,764

449,262

418,579

1,480,810

569,991

4,151,447

570,325

2,315,820

5,369,017

4,011,712

2,423,334

** 1,102

2,414,093

144,308

543,559

1,207,233

1,055,246

240,664

351,009

1,230,809

50,292

257,591

1,014,876

862,594

1,159,013

1,998,770

681,676

871,487

1,696,719

9,647,629

909,914

26,909,245

12,424,550

2,677,716

331,884

5,648,709

1,524,985

5,096,710

2,855,455

478,950

1,149,954

641,476

874,467

5,792

1,029,223

57,306

219,563

681,645

267,762

287,749

242,816

308,895

24,915

97,081

489,562

394,373

323,484

1,632,282

364,070

351,960

476,752

3,930,964

153,655

108,970

187,076

78,105

37,355

36,846,869

47,255,007

10,408,137

10,621,744

37,372,225

45,738,777

8,366,552

9,290,788

-80,224

1,036,741

1,116,965

335,441

30,074,512

34,610,107

4,535,596

6,363,200

7,377,938

10,091,929

2,713,991

2,592,147

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Real estate and rental and leasing —continued

Rental and leasing services

Net income status, item

Total

Automotive

equipment

rental

and leasing

Consumer

electronics and

appliances

rental

Formal wear

and costume

rental

Video tape

and disc

rental

Home health

equipment

rental

Recreational

goods rental

All other

consumer

goods

rental

(85)

(86)

(87)

(88)

(89)

(90)

(91)

(92)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

95,567

30,198

1,371

* 153

* 1,648

* 1,020

6,919

27,033

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

9,089,408

8,761,697

327,711

1,875,732

1,859,953

15,779

170,633

43,229

* 127,404

* 41,421

* 32,949

* 8,472

* 80,443

* 21,650

* 21,527

* 123

303,211

302,912

* 300

1,438,299

1,420,428

17,870

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

9,750,347

2,831,178

411,021

75,985

1,748,042

252,825

693,721

350,416

97,937

397,536

60,716

262,237

2,201

3,054,515

26,041

159,369

77,478

34,576

45,553

119,388

58,554

2,529

154,528

315,568

285,525

255,216

404,512

152,644

71,836

107,125

764,160

9,424

2,083,988

498,242

76,724

* 1,210

373,258

11,877

120,710

85,537

9,623

101,615

10,274

37,083

817,531

2,526

41,257

15,568

7,828

7,138

25,999

10,578

* 1,408

55,537

30,781

55,962

43,882

57,990

17,822

12,028

20,468

199,671

3,171

97,007

* 2,879

** 46,768

** 357

** 24,451

** 286

** 250

** 11,533

* 6,373

* 149

* 6,029

** 24,329

** 35,450

** 68

* 61

* 112

* 116

* 78

** 1,185

* 352

** 274

** 8,210

** 5,198

* 18,585

* 1,434

* 394

* 354

* 238

* 12,637

* 13

* 33,075

* 8,502

** 62

* 84,228

** 33,032

** 669

** 22,953

** 1,433

** 1,819

** 787

** 2,843

* 7,257

** 128

** 12,062

** 27,626

** 4,302

** 10,714

* 44,674

* 328

387,188

65,265

* 6,109

* 42,845

* 146

5,790

29,193

* 1,763

* 1,502

63,161

4,073

1,776

844

* 385

5,537

1,799

* 1,831

* 86,181

14,846

23,774

5,023

4,216

1,837

11,121

56,665

* 555

1,453,804

430,376

* 42,522

* 23,995

288,499

37,980

120,578

* 83,197

23,329

95,029

3,069

72,038

* 1,934

258,909

1,814

34,220

13,523

6,007

5,907

8,208

26,271

** 157

36,443

63,480

50,766

62,692

58,410

29,419

29,994

32,096

106,425

** 3,669

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

-601,150

1,425,204

2,026,354

1,315,541

-186,224

337,362

523,586

379,682

73,626

** 104,381

** 49,219

14,415

* 8,346

* 3,863

* -3,785

** 4,290

* -23,024

-83,028

11,936

94,964

43,665

3,812

305,516

301,704

116,327

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Professional, scientific, and technical services

Rental and leasing services —continued

General rental

centers

Commercial and

industrial

machinery and

equipment rental

and leasing

Lessors of

nonfinancial

intangible assets

(except

copyrighted

works)

Total

Legal

services

Office of

certified public

accountants

Other

accounting

services

(93)

(94)

(95)

(96)

(97)

(98)

(99)

Net income status, item

BUSINESSES WITH AND WITHOUT NET INCOME

9,953

17,273

2,342

3,917,083

319,226

32,704

351,478

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

Number of returns

670,923

670,260

* 662

4,487,096

4,329,995

157,101

123,347

122,176

* 1,171

247,753,872

244,003,529

3,750,343

40,866,054

40,514,632

351,422

3,862,033

3,838,117

23,916

12,833,573

12,518,591

314,982

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

646,168

113,204

* 19,445

* 411

* 43,256

* 61,281

* 8,441

* 19,632

35,548

56,354

* 18,003

78,267

56,732

* 1,603

10,128

4,382

3,571

* 3,068

* 2,027

6,270

* 14,756

49,390

16,212

55,513

* 19,433

9,674

3,079

17,549

71,022

4,920,215

1,679,677

225,563

50,011

1,012,470

98,556

443,595

150,517

16,605

92,242

21,578

49,018

261

1,822,731

20,030

68,198

40,298

15,422

28,978

76,431

10,442

964

45,687

70,270

142,540

50,641

250,160

63,493

24,481

21,352

306,699

2,016

112,597

* 1,366

* 2,354

* 100

* 4,802

* 102

* 1,961

* 2,832

* 6,371

* 40

* 4,917

* 18

* 7,661

* 21

* 7,378

* 5,738

* 65,407

* 1,527

146,511,043

30,008,836

1,404,831

4,932,235

12,611,966

3,338,384

9,268,343

1,546,923

3,941,215

8,548,077

2,044,844

10,837,789

40,008

6,289,190

710,339

2,046,122

4,273,494

2,511,707

332,926

857,852

4,117,797

548,132

1,150,327

5,207,488

1,611,037

5,205,367

15,599,085

2,368,294

5,848,190

5,169,343

23,742,573

3,496,410

22,046,163

2,530,646

19,567

98,158

127,888

39,601

2,271,150

25,717

828,589

813,305

212,734

1,076,633

934

424,932

211,896

535,975

966,006

265,480

66,908

162,145

926,664

139,382

150,432

1,521,851

188,635

305,817

4,228,943

529,344

363,798

744,570

4,569,176

281,369

2,139,835

26,632

* 160

* 1,605

24,610

14,524

82,416

48,165

88,178

59,862

22,286

50,433

63,411

28,927

4,374

9,390

111,469

26,280

16,669

151,873

31,505

35,245

601,065

67,431

21,178

68,074

448,482

61,936

7,627,763

639,051

** 4,026

* 435,220

112,679

** 45,093

50,957

** 8,665

136,643

634,472

125,356

465,487

** 30,423

501,827

52,748

100,045

161,633

111,619

24,912

54,109

356,933

57,510

90,760

370,445

109,197

255,282

924,307

151,387

137,868

440,331

1,455,708

235,138

23,795

98,560

74,765

40,630

-414,667

567,449

982,116

712,671

75,794

91,025

* 15,232

* 15,415

101,574,115

117,014,519

15,440,404

18,511,769

18,827,568

19,698,650

871,082

2,085,926

1,722,199

1,793,111

70,912

270,589

5,219,695

5,910,014

690,319

1,172,417

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Professional, scientific, and technical services —continued

Architectural, engineering, and related services

Net income status, item

Total

Architectural

services

Engineering

services

Drafting,

building

inspections,

and

geophysical

surveying

(100)

(101)

(102)

(103)

Surveying and

mapping

(except

geophysical)

services

(104)

Testing

Specialized

design

services

Computer

systems design

services

(105)

(106)

(107)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

289,874

130,295

91,737

53,661

9,333

4,848

313,851

335,237

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

22,694,762

22,456,906

237,856

10,494,005

10,358,267

135,738

8,272,899

8,236,173

36,726

2,691,831

2,648,817

* 43,014

641,917

641,055

* 862

594,109

572,594

* 21,515

13,481,711

13,160,596

321,116

16,851,287

16,622,916

228,371

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

15,477,715

4,383,328

115,465

652,949

2,064,697

874,462

839,009

163,254

191,319

1,019,598

53,954

1,543,487

* 106

800,661

60,786

361,415

368,270

227,356

36,327

81,638

291,864

40,924

137,905

368,306

292,434

489,714

1,675,583

257,228

475,676

436,640

1,620,278

262,918

8,509,148

2,385,168

46,400

323,593

944,628

791,284

339,994

* 60,731

72,129

503,890

31,224

909,052

425,983

29,879

232,906

226,911

111,061

20,836

48,872

116,797

15,938

105,279

252,643

213,523

287,239

893,748

131,001

197,863

198,000

1,002,002

97,204

4,714,894

1,716,252

69,065

312,948

1,110,468

50,268

276,026

102,523

74,307

266,197

21,442

385,375

** 106

162,365

21,729

67,083

96,712

87,526

14,307

22,946

94,123

20,311

27,773

85,883

60,204

109,019

461,505

69,903

228,230

121,159

427,603

72,856

1,414,653

** 134,938

** 16,409

* 7,998

** 32,911

** 111,840

23,658

203,717

** 1,288

215,547

118,960

** 8,186

42,043

30,089

14,195

** 1,184

** 5,069

63,701

* 1,439

* 4,528

15,255

6,765

61,275

174,019

27,724

26,623

83,855

77,181

78,733

373,796

* 3,842

31,762

* 3,175

* 66,763

16,007

11,214

4,495

12,215

* 2,689

* 7,840

* 3,621

17,731

* 106,006

* 11,784

* 15,505

21,479

20,053

* 12,280

465,224

* 146,970

* 1,602

* 111,149

17,384

* 14,032

* 30,337

* 26,591

* 993

* 3,376

3,346

10,079

* 4,750

5,029

* 548

* 325

* 6,686

* 8,322

14,450

* 40,305

16,815

* 7,454

12,147

93,438

* 1,845

9,737,508

3,709,879

289,577

131,249

2,294,864

647,585

649,929

303,324

236,031

487,503

160,885

537,951

** 998

443,460

5,984

76,448

149,855

113,307

16,994

31,797

215,324

17,636

41,305

335,133

105,253

700,936

360,190

108,841

246,300

348,085

951,829

335,587

10,215,077

2,384,941

47,174

819,235

865,603

148,158

597,191

92,419

361,989

527,218

171,892

1,292,022

357,217

48,513

77,355

209,715

172,505

17,057

46,442

266,092

22,370

90,831

187,722

100,544

405,446

912,107

140,358

401,235

379,931

1,418,353

223,218

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

7,218,243

8,501,831

1,283,587

1,188,573

1,985,099

2,717,332

732,234

398,852

3,558,960

4,047,144

488,183

558,433

1,277,178

1,327,219

50,041

150,875

268,121

277,260

* 9,139

47,195

128,885

132,876

* 3,991

33,218

3,747,986

5,034,009

1,286,023

1,125,623

6,673,524

8,129,496

1,455,972

1,121,233

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Administrative and support and

waste management and

remediation services

Professional, scientific, and technical services—continued

Other professional, scientific, and technical services

Net income status, item

Total

Management,

scientific, and

technical

consulting

services

Scientific

research and

development

services

Advertising

and related

services

(108)

(109)

(110)

(111)

Market

Other

research

miscellaneous

and public

services

opinion polling

(112)

(113)

Total

Management

companies and

enterprises

(114)

(115)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

2,274,713

1,107,857

61,446

163,457

39,319

902,633

3,147,581

8,138

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

137,164,451

134,891,771

2,272,680

70,651,823

69,239,929

1,411,894

2,036,709

1,946,503

90,206

12,251,223

12,208,971

42,252

1,655,809

1,529,438

126,371

50,568,886

49,966,930

601,956

118,039,416

116,416,901

1,622,515

1,215,366

1,105,113

110,253

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

79,266,982

16,334,358

929,022

2,795,264

7,144,631

1,583,485

4,835,498

953,543

2,172,120

4,983,566

1,271,859

5,834,031

7,548

3,701,230

308,127

844,451

2,354,604

1,592,513

166,354

472,331

1,949,450

244,030

622,426

2,272,157

783,469

3,012,928

6,896,890

1,113,706

4,202,134

2,751,711

13,278,747

2,096,244

35,993,584

6,167,568

393,737

1,798,478

2,250,685

258,672

1,893,674

427,678

1,015,894

2,472,243

592,190

3,105,839

2,370

1,540,468

162,212

346,465

1,441,441

909,226

55,410

217,077

1,021,297

157,813

231,318

1,067,096

347,411

1,234,687

2,843,731

449,294

2,425,557

1,379,783

5,664,027

1,143,168

1,071,123

131,950

* 2,817

* 599

93,585

* 5,821

31,817

* 2,689

9,286

56,849

3,550

127,093

72,830

4,263

8,796

54,069

23,061

* 4,396

9,826

12,824

* 1,020

12,913

17,035

3,561

20,008

65,606

12,729

59,249

24,072

307,611

28,527

9,006,527

3,755,801

115,320

** 461,038

1,509,193

** 333,150

1,429,010

89,149

384,377

261,769

122,854

492,085

** 68

305,835

30,996

72,061

154,451

142,682

23,747

36,255

137,423

13,717

23,171

127,317

44,279

216,051

712,761

98,369

297,124

260,221

1,178,562

114,555

1,220,867

258,283

* 47,713

* 189,482

* 65,907

* 47,581

26,421

25,683

19,226

64,337

90,502

* 2,926

9,364

42,476

8,693

* 4,099

94,309

12,331

* 233

* 3,076

22,380

2,989

9,412

120,486

8,142

40,141

23,148

314,784

17,422

31,974,881

6,020,756

369,434

535,149

3,101,686

985,843

1,415,090

386,445

736,142

2,167,022

534,041

2,044,677

5,110

1,691,595

107,731

407,765

662,166

508,852

78,702

114,863

765,574

71,247

351,948

1,038,329

385,229

1,532,769

3,154,307

545,172

1,380,063

1,064,486

5,813,763

792,572

88,719,591

18,454,717

480,209

3,670,655

6,198,822

4,632,648

3,887,750

415,368

1,455,216

11,253,024

993,610

8,313,713

40,831

5,720,957

203,305

1,971,559

1,169,137

1,122,101

161,574

477,726

1,306,949

87,083

1,003,005

1,738,475

2,234,674

6,181,107

9,080,463

1,488,052

1,264,598

2,974,519

9,156,069

858,811

1,193,205

489,601

* 30,416

* 16,601

337,950

* 3,015

130,575

* 28,957

23,447

3,618

* 938

33,910

* 132

27,773

6,945

19,406

33,987

2,102

* 315

42,729

2,782

* 6,377

1,505

21,414

9,122

2,747

221,025

19,031

7,295

11,264

199,833

* 5,908

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

58,164,900

67,947,408

9,782,508

11,547,408

34,693,630

39,914,675

5,221,045

6,617,259

1,033,778

1,225,178

191,399

236,703

3,284,210

4,169,789

885,579

800,719

515,381

628,835

113,453

113,050

18,637,900

22,008,932

3,371,032

3,779,677

29,315,932

39,737,442

10,421,510

5,739,575

21,520

143,308

121,788

130,730

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Administrative and support and

waste management and

remediation

services—continued

Health care and social assistance

Educational

services

Ambulatory health care services

Net income status, item

Administrative

and

support

services

Waste

management

and

remediation

services

(116)

(117)

Total

(118)

Total

(119)

Total

Offices of

physicians

(except mental

health

specialists)

Offices of

physicians,

mental

health

specialists

Offices

dentists

(120)

(121)

(122)

(123)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

3,109,093

30,350

860,324

2,420,090

1,439,766

186,493

49,408

68,749

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

112,375,586

110,872,580

1,503,006

4,448,464

4,439,209

9,256

16,161,135

15,968,486

192,649

142,267,707

139,539,762

2,727,944

105,434,604

103,508,550

1,926,054

28,083,298

27,363,913

719,385

5,746,982

5,660,927

86,055

18,359,372

18,143,118

216,254

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

83,237,409

16,537,173

435,374

3,329,493

5,429,296

4,392,547

3,320,492

370,029

1,380,724

10,924,310

970,282

8,116,133

40,698

5,187,937

186,143

1,842,829

1,068,465

1,099,208

156,672

402,512

1,244,817

79,414

977,493

1,663,667

2,081,317

6,054,765

8,445,059

1,379,938

1,232,065

2,888,046

8,420,285

849,145

4,288,976

1,427,943

* 14,419

324,561

431,576

237,086

436,683

* 16,381

51,045

325,097

22,391

163,671

505,248

10,217

109,324

66,685

20,792

4,587

32,486

59,351

1,292

24,006

53,394

144,235

123,595

414,379

89,083

25,238

75,209

535,951

3,757

11,583,520

719,209

80,982

173,057

201,231

40,424

286,019

62,504

352,770

1,291,368

177,444

712,902

* 615

587,634

55,298

191,681

251,842

204,074

43,330

41,595

351,032

8,339

133,066

881,510

203,852

721,786

1,119,538

170,352

471,218

644,262

1,933,198

315,564

91,721,676

6,618,121

382,646

1,175,178

2,242,022

1,349,994

1,848,944

380,663

1,456,790

5,939,805

512,319

4,679,755

8,841

3,495,401

631,684

2,140,515

2,073,236

1,881,537

292,660

456,015

2,429,164

393,884

842,750

5,895,539

1,481,078

5,598,990

19,842,944

2,421,101

1,450,190

3,356,952

16,007,364

1,815,042

66,294,123

5,286,100

341,240

711,590

2,058,719

986,463

1,528,115

340,028

1,157,169

3,812,702

416,979

3,622,124

6,473

2,608,308

458,236

1,673,062

1,692,931

725,871

172,541

344,413

1,874,664

348,533

566,631

4,525,061

899,151

3,870,014

14,606,562

1,781,150

1,057,175

2,065,170

11,954,016

769,089

15,673,940

1,237,158

58,195

146,087

354,979

250,995

492,821

65,919

184,439

300,929

65,886

928,729

* 35

509,360

159,880

552,403

524,067

87,857

26,188

56,846

380,025

152,271

117,407

989,623

133,676

781,905

3,443,625

434,901

229,328

311,086

3,984,498

81,819

2,327,282

115,665

* 4,183

* 86,965

* 5,017

* 4,561

19,483

* 4,544

27,715

68,183

2,243

151,214

82,588

12,400

100,879

98,062

46,197

* 16,761

10,916

94,228

7,352

16,685

277,071

27,471

68,821

330,670

62,801

52,209

85,322

508,705

63,124

13,582,806

945,509

35,886

190,771

147,887

217,250

392,060

38,345

241,456

116,571

62,373

434,637

704,457

127,708

229,739

251,913

61,336

47,508

118,833

299,839

114,995

81,229

808,476

188,192

1,011,914

4,549,726

508,973

60,680

266,920

2,337,274

12,547

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

29,134,841

39,141,266

10,006,425

5,529,446

159,571

452,868

293,298

79,399

4,596,659

7,086,041

2,489,382

1,427,177

50,673,245

58,438,142

7,764,897

6,989,402

39,231,211

44,545,044

5,313,833

5,188,537

12,431,163

13,181,917

750,754

1,121,732

3,434,421

3,518,067

83,645

383,963

4,781,649

5,059,979

278,330

462,721

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Health care and social assistance —continued

Ambulatory health care services —continued

Net income status, item

Offices

chiropractors

Offices

optometrists

Offices of

mental health

practitioners

and social

therapists

(124)

(125)

(126)

Offices

podiatrists

Outpatient

care centers

and

other

miscellaneous

health

practitioners

Medical and

diagnostic

laboratories

Home

health care

services

(127)

(128)

(129)

(130)

Other

ambulatory

health care

services

(including

ambulance

service,

blood, organ

(131)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

24,786

11,505

305,150

3,753

253,013

21,341

460,788

54,778

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

3,603,007

3,529,151

* 73,856

3,828,924

3,814,054

14,870

16,759,354

16,349,263

410,091

942,680

985,932

-43,253

12,015,624

11,784,478

231,146

1,356,872

1,355,097

1,775

12,766,517

12,562,491

204,026

1,971,975

1,960,126

11,849

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

2,513,189

172,194

* 8,565

21,759

130,859

118,999

63,555

7,050

132,446

* 13

140,821

* 4,343

79,811

84,489

31,236

* 4,316

39,582

126,194

35,688

6,042

355,989

46,122

174,422

414,069

59,435

37,064

108,152

259,790

11,367

3,093,529

1,018,945

105,145

** 26,480

883,163

90,655

43,295

** 118,780

56,632

31,955

18,411

16,917

99,174

40,605

36,631

31,136

8,350

* 1,575

15,594

71,552

7,001

26,356

232,125

25,171

36,905

883,352

92,256

6,590

51,787

282,967

* 1,544

8,108,229

195,288

26,846

35,455

68,623

41,987

58,617

36,239

165,072

719,657

36,372

662,621

* 2,958

294,017

45,599

176,057

278,926

134,841

14,100

21,702

440,571

8,785

47,714

728,316

82,877

364,900

1,268,546

173,474

172,603

421,367

1,319,129

332,738

614,863

* 54,636

* 2,647

* 2,405

* 40,689

* 8,896

3,883

6,740

* 3,665

* 5,092

7,840

* 5,026

30,332

12,347

1,142

3,325

19,564

* 4,341

* 5,314

60,359

7,623

62,739

164,364

21,866

8,713

16,822

107,488

* 1,642

7,491,835

697,684

55,646

93,076

326,419

142,954

131,002

51,413

157,746

572,086

151,508

532,766

317,103

21,881

184,648

171,389

146,895

4,724

49,936

157,930

8,432

39,964

591,040

75,471

541,367

902,263

142,784

180,065

267,737

1,436,619

139,794

1,118,310

240,957

* 8,275

* 9,912

* 19,208

79,656

132,609

* 8,702

17,607

62,685

* 517

39,500

57,548

8,572

20,959

26,148

4,008

* 222

2,480

10,650

* 1,268

8,850

31,916

23,989

47,664

242,152

26,853

10,337

31,747

197,812

3,870

10,451,462

495,555

38,986

105,623

179,474

80,325

100,520

9,372

141,772

1,613,910

66,337

630,362

* 3,463

348,986

28,244

222,922

151,320

175,722

56,757

22,383

251,089

2,726

181,302

384,222

268,653

732,034

2,291,001

238,146

275,490

461,626

1,296,614

110,826

1,318,675

112,508

* 8,079

* 14,573

62,981

15,633

17,955

* 6,713

41,848

256,432

2,616

87,840

46,413

3,979

38,682

63,135

28,286

* 389

2,815

23,023

5,675

35,769

65,925

19,907

47,342

116,794

19,661

24,096

42,604

223,120

9,817

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

1,089,817

1,175,460

85,642

127,344

748,382

800,793

52,411

106,340

8,659,232

9,162,679

503,447

1,481,181

327,817

328,772

* 955

32,855

4,525,092

5,345,463

820,371

772,281

238,974

407,115

168,142

66,682

2,315,433

4,653,335

2,337,903

529,083

679,232

911,465

232,233

104,356

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Health care and social

assistance—continued

Arts, entertainment, and recreation

Total

Performing arts,

spectator

sports and

industries

Museums,

historical sites,

and similar

institutions

Amusement,

gambling, and

recreation

industries

(135)

(136)

(137)

(138)

Net income status, item

Hospitals

Nursing and

residential

care facilities

Social

assistance

(132)

(133)

(134)

BUSINESSES WITH AND WITHOUT NET INCOME

6,184

152,485

821,655

1,806,738

1,596,389

5,681

204,668

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

Number of returns

1,356,507

1,277,307

79,200

10,363,671

10,206,540

157,131

25,112,925

24,547,366

565,559

63,987,510

61,838,132

2,149,378

48,566,842

46,839,476

1,727,366

258,068

258,049

* 19

15,162,599

14,740,607

421,992

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

1,149,280

28,459

* 1,046

7,661

* 2,248

* 96

3,147

8,999

5,696

76,616

32,523

40,927

23,830

26,274

9,527

* 4,979

8,623

12,799

* 97

11,645

65,282

14,901

46,085

442,339

56,394

7,738

21,231

196,728

4,439

8,718,809

456,268

4,516

** 124,293

64,285

85,323

** 203,850

8,398

60,249

760,995

23,500

270,604

* 2,368

335,707

86,536

174,437

145,642

237,796

53,467

70,533

116,395

2,055

33,944

428,524

154,250

365,505

2,316,450

275,239

147,287

345,776

1,793,060

62,223

15,559,464

847,294

* 35,843

339,295

111,357

275,961

116,979

* 32,140

236,226

1,357,108

66,145

710,410

518,862

45,986

269,187

208,389

908,344

61,674

32,446

425,306

43,199

230,530

876,672

412,776

1,317,386

2,477,594

308,317

237,989

924,775

2,063,561

979,291

49,150,372

7,493,851

1,037,474

519,200

2,580,024

1,118,898

3,431,177

1,192,923

1,249,340

2,959,334

1,267,553

2,695,505

11,307

2,898,601

114,760

541,507

1,017,975

785,586

130,116

242,229

952,793

28,983

552,507

2,629,650

803,026

2,497,509

3,076,176

672,645

2,322,348

1,636,407

11,588,626

982,036

34,727,392

4,331,453

809,104

340,602

1,277,316

861,110

1,947,280

903,959

1,024,916

2,495,441

** 1,125,694

2,303,061

10,797

1,899,296

** 68,504

356,690

860,789

685,720

** 77,247

175,016

810,813

** 25,576

** 415,468

1,439,396

488,517

2,067,633

1,746,472

326,206

2,114,582

1,191,561

7,781,766

909,276

234,360

80,083

* 21,522

* 59,606

* 1,977

* 18,769

* 21,792

3,016

* 21,290

* 4,769

16,175

945

1,777

* 1,872

* 1,159

* 3,274

* 33,692

1,508

9,065

* 6,898

1,362

* 13,566

16,054

13,353

14,188,621

3,082,315

206,848

178,598

1,243,103

255,810

1,465,128

267,172

221,409

442,603

141,858

387,675

* 510

983,130

46,256

183,872

155,409

97,994

52,868

66,053

138,706

3,408

137,038

1,156,562

313,001

420,811

1,322,806

345,077

194,200

428,792

3,793,507

72,760

251,373

348,894

97,521

34,992

1,631,317

2,417,121

785,803

321,571

9,559,344

11,127,084

1,567,740

1,444,303

14,962,040

22,638,477

7,676,437

4,361,286

13,956,661

19,881,824

5,925,162

3,592,884

23,571

* 52,861

29,290

21,780

981,807

2,703,792

1,721,985

746,622

Net income less deficit [1]

Net income [1]

Deficit

Qualified business deduction

Footnotes at end of table.

Statistics of Income Bulletin

Spring 2025

Sole Proprietorship Returns, Tax Year 2022

Table 2. Nonfarm Sole Proprietorships: Income Statements, by Industrial Sectors, Tax Year 2022—Continued

[All figures are estimates based on samples—money amounts are in thousands of dollars]

Other

services

Accommodation, food services, and drinking places

Accommodation

Net income status, item

Total

(139)

Total

Travel

accommodation

(including hotels,

motels, and bed

and breakfast

inns)

RV (recreational

vehicle) parks

and

recreational

camps

(140)

(141)

(142)

Rooming

and boarding

houses

Restaurants

(full & limited

service)

and drinking

places

Total

(143)

(144)

(145)

BUSINESSES WITH AND WITHOUT NET INCOME

Number of returns

768,763

80,866

51,648

10,610

18,608

687,897

4,052,693

Business receipts, total [1]

Income from sales and operations

Other business income (loss)

85,658,125

84,642,055

1,016,069

8,298,269

8,139,794

158,475

6,572,852

6,452,159

120,694

1,222,057

1,188,945

33,112

503,359

498,690

* 4,669

77,359,856

76,502,261

857,595

160,229,048

157,771,421

2,457,626

Business deductions, total [1]

Cost of sales and operations, total

Inventory, beginning of year

Cost of labor

Purchases

Materials and supplies

Other costs

Inventory, end of year

Advertising expenses

Car and truck expenses

Commissions

Contract labor

Depletion

Depreciation

Employee benefit programs

Insurance

Legal and professional services

Meals deducted

Mortgage interest

Other interest paid on business indebtedness

Office expenses

Pension and profit-sharing plans

Rent paid on machinery and equipment

Rent paid on other business property

Repairs

Supplies

Salaries and wages

Taxes paid

Travel

Utilities

Other business expenses

Home office business deductions, total

83,012,615

30,696,253

872,925

2,714,534

23,217,024

2,891,856

1,842,075

842,162

1,094,821

2,198,136

596,236

1,731,060

5,415

3,732,193

159,710

1,237,358

760,834

390,121

516,657

408,284

636,352

27,823

673,966

4,638,350

1,856,413

3,674,448

12,656,587

3,421,112

411,700

3,298,834

8,073,805

111,904

8,741,776

909,047

103,924

124,360

318,778

56,450

397,914

92,378

142,591

200,910

143,231

219,745

* 790

1,285,433

42,749

242,576

126,307

35,135

357,541

120,948

86,918

5,301

64,530

267,949

520,962

349,136

994,435

461,356

89,861

584,676

1,474,880

14,767

6,908,928

766,069

72,0

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