# S Corporation Returns, 2002

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- **Document type:** Agency decision

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S Corporation Returns, 2002
by Kelly Luttrell

A

s they have been since 1997, S corporations
once again are the most prevalent type of
corporation filing Form 1120, U.S. Tax
Return for a Corporation. Since then, S corporation return filings have increased by over 702.1
thousand returns. Nearly 58.9 percent of all corporations filed Form 1120S for 2002. The total number of
returns filed by S corporations for Tax Year 2002
increased 5.6 percent to nearly 3.2 million, from
nearly 3.0 million reported in 2001.
The long-term growth of S corporation returns
was encouraged by four legislative acts: the Tax
Reform Act of 1986, the Revenue Reconciliation Act
of 1990, the Revenue Reconciliation Act of 1993, and
the Small Business Job Protection Act of 1996 [1].
Filings of S corporation returns have increased at an
average annual rate of nearly 9.0 percent since the
enactment of the Tax Reform Act of 1986 (Figure
A). During the same time period, taxable corporations have experienced an average annual decline of
1.3 percent. The term “taxable corporations” refers
to corporations other than S corporations [2].
For Tax Year 2002, approximately 333.6 thousand corporations elected subchapter S status for the
first time. Of these, 242.8 thousand were newly
incorporated businesses. The remaining 90.7 thousand elected to make the conversion from a taxable
corporation to an S corporation. For the first time
since 1996, there was an increase in the growth rate
of all S corporations. At the same time, the number
of businesses electing S corporation status increased
11.5 percent. While other measures of size also
grew in 2002, number of shareholders grew 5.8
percent and total assets 7.1 percent, total net income
(less deficit) showed a decrease of 2.2 percent from
the previous year (Figure B).
The growth among S corporations was concentrated in the construction and professional, scientific,
and technical services sectors, showing increases of
32.4 thousand and 30.3 thousand respectively. The
professional, scientific, and technical sector saw the
largest number of newly electing S corporations, with
52.2 thousand. Though small relative to the whole S
corporation population, the utilities sector reported the

largest percentage decline in number of returns,
decreasing 7.8 percent, while the arts, entertainment,
and recreation sector displayed the largest percentage increase in number of returns, 10.7 percent.

Kelly Luttrell is an economist with the Corporation
Special Projects Section. This article was prepared
under the direction of Joseph Koshansky, Chief.

ˆ have only individuals, estates, certain trusts, and

SCorporationBasics
Certain corporations may elect to be treated as S
corporations for Federal tax purposes. Electing to be
treated as an S corporation allows the income and
expenses to pass through the corporate structure to
the shareholders. Shareholders are generally responsible for any resulting tax liability. The S corporation
election allows S corporations and their shareholders
to avoid double taxation of the corporation’s net
income or capital gains. This treatment is unlike
taxable corporations, which incur a tax liability first at
the corporate level on their net incomes and capital
gains and again when profits are distributed to
shareholders in the form of dividends. Corporations
that are eligible to make a Subchapter S election can
achieve considerable tax savings by eliminating
double taxation. An S election is equally beneficial
for corporations that report net losses, as the losses
flow through to the individual shareholders and, for
shareholders with active participation in the business,
can be used to offset net income from other sources.
A corporation must meet all the criteria in Subchapter S of the Internal Revenue Code for an election and file Form 2553, Election by a Small Business Corporation, with the IRS Submission Processing Center where the corporation files its Federal
tax forms to qualify under Subchapter S. All shareholders of the corporation must concur with the
election on Form 2553, and all eligibility requirements
must be met prior to the election [3]. The criteria for
Tax Year 2002 were that the corporation:

ˆ be a domestic corporation (an unincorporated
association that is treated as a corporation under
Internal Revenue Code section 7702 may elect
treatment as an S corporation);

ˆ have no more than 75 shareholders (a husband
and wife (and their estates) are counted as one
shareholder for this requirement);
exempt organizations as shareholders [4];
59

S Corporation Returns, 2002

Figure A
Number of Form 1120 Series Returns, by Type of Corporation, Tax Years 1986-2002
Millions of returns
3.25
3.00
2.75
2.50
2.25
2.00
1.75
1.50
1.25
1.00
0.75
1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

Tax year

60

S corporations

All other corporations

Figure B
S Corporation Annual Percentage Increase or Decrease for Tax Years 1995-2002
Tax year

1995........................
1996........................
1997........................
1998........................
1999........................
2000........................
2001........................
2002........................

Number of
S corporations

Number of newly
elected
S corporations ¹

Number of new
S corporations ²

Number of
shareholders

Total assets ³

Total receipts ³

Total net income
(less deficit) ³

(1)

(2)

(3)

(4)

(5)

(6)

(7)

6.4
7.0
6.4
5.5
5.3
4.9
4.4
5.8

9.2
-0.4
19.5
-3.3
-2.7
-3.0
2.2
11.5

8.3
0.9
18.3
2.8
-8.9
-0.7
-2.6
18.0

4.3
5.0
4.9
3.9
4.9
2.6
3.1
5.8

¹ Newly elected S corporations include startup businesses and corporations electing to convert to an S corporation.
² New S corporations only include corporations that started business within the reported tax year.
³ Percentages were calculated based on "current" dollars.

60

7.8
8.1
18.8
11.3
11.9
9.9
5.2
7.1

8.8
8.9
10.6
5.7
7.8
9.6
4.0
4.0

8.1
26.3
22.2
18.8
6.6
2.5
-5.5
-2.2

S Corporation Returns, 2002

ˆ have no nonresident alien shareholders; and
ˆ have only one class of stock.
Ineligible corporations were:

ˆ affiliated group members eligible for inclusion on
a consolidated return;

ˆ insurance companies subject to provisions of
Subchapter L of the Internal Revenue Code;

ˆ Interest-Charge Domestic International Sales

The North American Industry Classification
System made some additions and revisions to industry
codes for 2002. (See definition of North American
Industry Classification System in Explanation of
Selected Terms.)
Starting with Tax Year 2002, S corporations
were no longer required to complete Schedule L,
Balance Sheets per Books, nor Schedule M-1,
Reconcilation of Income (Loss) per Books With
Income (Loss) per Return, if the following criteria
were met:

ˆ Total assets at the end of the year were less

Corporations (IC-DISC’s) or former Domestic
International Sales Corporations (DISC’s);

than $250,000; and

ˆ corporations eligible to elect the possessions tax
credit; and

ˆ banks or thrift institutions that use the reserve
method of accounting for bad debts under
Internal Revenue Code section 585.

ˆ Total receipts were less than $250,000. (See
North American Industry Classification System
for definition of total receipts in Explanation of
Selected Terms.)

FinancialDataHighlights

Form 1120S, U.S. Tax Return for an S Corporation, must be filed before the 15th day of the 3rd
month following the close of the corporation’s tax
year. Also, S corporations generally must file for a
calendar tax year to conform to the majority of their
shareholders. While S corporations may obtain an
exemption from the calendar year rule, for Tax Year
2002, nearly 97.8 percent of all S corporations filed a
calendar year return [5].

For 2002, S corporations accounted for 59.9 percent
of the 5.3 million corporate returns but only 19.8
percent of the $19,749.4 billion total receipts and 4.0
percent of the $50,413.5 billion total assets reported
on corporate returns. S corporations reported
$3,910.9 billion of total receipts and $2,016.7 billion of
total assets, increases of 4.0 percent and nearly 7.1
percent, respectively, from 2001. Net income (less
deficit) reported by S corporations decreased, from
$187.7 billion for 2001 to $183.5 billion for 2002, a
decrease of $4.2 billion (Figure C). This decrease

Figure C
S Corporation Total Net Income (Less Deficit), Tax Years 2001 and 2002
[Money amounts are in thousands of dollars]

Item

2001

2002

(1)

(2)

Total net income (less deficit) ¹................................................
Net income (less deficit) from trade or business.........................
Portfolio dividend income............................................................
Portfolio interest income..............................................................
Portfolio royalty income...............................................................
Portfolio net short-term capital gain (less loss)...........................
Portfolio net long-term capital gain (less loss).............................
Other portfolio income (net).........................................................
Real estate rental net income (less deficit).................................
Net income (less deficit) from other rental activity.......................

187,686,917
142,552,181
2,168,092
12,417,917
749,408
-672,803
23,175,142
362,813
6,226,832
707,335

183,478,933
150,611,468
1,811,654
9,438,865
597,672
179,589
13,475,631
357,978
6,623,212
382,863

Increase or
decrease (-)

Percent change

(3)

(4)

-4,207,984
8,059,287
-356,438
-2,979,052
-151,736
852,392
-9,699,511
-4,835
396,380
-324,472

-2.2
5.7
-16.4
-24.0
-20.2
126.7
-41.9
-1.3
6.4
-45.9

¹ Total net income (less deficit) is discussed in the Explanation of Selected Terms section.
NOTE: Detail may not add to totals because of rounding.

61

S Corporation Returns, 2002

resulted largely from a decline of $9.7 billion in longterm capital gains (a 41.9-percent drop from 2001.)
Portfolio interest income also declined by $3.0 billion
from 2001, or 24 percent. These declines more than
offset a 5.7-percent increase, or $8.1 billion, in trade
and business income. S corporations in the wholesale
and retail trade sector, which accounted for the largest
share of returns (17.2 percent) also accounted for the
largest share of total assets (23.2 percent) and total
receipts (41.3 percent) reported by S corporations.

IncomeStatement

62

62

Net income (less deficit) from a trade or business is
the largest component of total net income (less deficit),
at $150.6 billion. Net income (less deficit) from a
trade or business, as a share of total net income (less
deficit), increased slightly, accounting for nearly 82.1
percent as compared to 76.0 percent for 2001, an
increase of $8.1 billion [6]. Portfolio income (less
deficit) distributed to shareholders decreased 32.3
percent to $25.9 billion, a decline of $12.3 billion.
(See definition of portfolio income in Explanation of
Selected Terms.) Net long-term capital gain (less
loss) reported a reduction of $9.7 billion to $13.5 billion.
Four industrial sectors dominate total net income
(less deficit) representing $114.0 billion, or 62.0
percent of the total. The wholesale and retail trade
sector represented 21.0 percent of total net income
(less deficit), or $38.5 billion. Manufacturing represented 13.8 percent of total net income (less deficit),
while construction and professional, scientific, and
technical services both accounted for 13.7 percent
(Figure D).
Total receipts for S corporations increased
$149.4 billion to $3,910.9 billion, an increase of 4.0
percent. Business receipts, the major component of
total receipts, increased $150.1 billion to $3,841.3
billion. Total deductions increased $141.1 billion to
$3,759.1 billion for Tax Year 2002. (See definition of
total deductions in Explanation of Selected Terms.)
Cost of goods sold, the largest component of total
deductions, accounted for 63.5 percent, or $2,386.8
billion, of total deductions, a $68.2-billion increase
from the previous year. Salaries and wages increased $26.4 billion to $419.0 billion, from $392.5
billion in 2001.
Four industrial sectors continued to account for
the majority of total receipts for all S corporations

(Figure E.) The wholesale and retail trade sector
accounts for $1,614.5 billion, or 41.3 percent of total
receipts. The construction sector reported 14.8
percent in total receipts, while the manufacturing and
professional, scientific, and technical services sectors
represented 13.2 percent and 6.8 percent respectively.
Nearly two-thirds, 62.0 percent, of all S corporations reported positive net income (Table 2). These
2.0 million S corporations reported $246.5 billion in
positive total net income, declining $2.3 billion from
2001 when $248.9 billion were reported. For Tax
Year 2002, all components of portfolio income (less
deficit) distributed to shareholders declined. Overall,
net long-term capital gain (less loss) declined $10.1
billion, or 40.5 percent, for S corporations with positive total net income. Net long-term capital gain (less
loss) decreased $3.6 billion for the wholesale and
retail trade sector, from $6.3 billion in 2001 to $2.7
billion in 2002. Total receipts increased $63.7 billion,
and total deductions also increased $53.2 billion for
all S corporations with positive net income.
Four sectors accounted for 57.9 percent of the
nearly 2.0 million returns reporting positive total net
income in Tax Year 2002: wholesale and retail trade
(16.3 percent); professional, scientific, and technical
services (16.3 percent); construction (14.3 percent);
and real estate and rental and leasing (11.0 percent).
Positive total net income for the four largest industrial sectors was nearly $129.8 billion for 2002, with
the wholesale and retail trade sector accounting for
20.2 percent, or $49.7 billion, of all positive total net
income reported.

BalanceSheet
Total assets for S corporations increased $133.7
billion, or 7.1 percent from the previous year (Table
3) [7]. The two largest asset categories for Tax
Year 2002 were net notes and accounts receivable
and net depreciable assets. (See definition of net
notes and accounts receivable and net depreciable
assets in Explanation of Selected Term.) Net notes
and accounts receivable accounted for nearly $437.8
billion, or 21.7 percent of total assets. Net notes and
accounts receivable also displayed the largest increase, growing $27.5 billion from $410.3 billion in
2001. Net depreciable assets accounted for $436.4
billion, or 21.6 percent of total assets for all S corporations. Mortgage and real estate loans and

S Corporation Returns, 2002

Figure D
S Corporations: Total Assets, Total Receipts, and Total Net Income (Less Deficit), by Industrial Sector,
Tax Year 2002
[Money amounts are in thousands of dollars]

Agriculture,
Item

All

forestry,

industries ¹

fishing, and

Mining

Utilities

Construction

Manufacturing

(2)

(3)

(4)

(5)

(6)

77,297
43,138,332
55,885,133
3,200,935
-538,216
579,799
37,824
192,074
49,855
-7,336
301,696
5,686
166,094
22,932

16,598
25,405,805
19,980,245
3,214,475
2,038,739
458,512
72,249
203,294
112,671
-15,990
84,345
1,942
12,556
13,209

1,715
3,869,273
3,204,349
195,469
145,114
55,051
3,738
24,716
26
19,627
6,944
-*-5,100
195,469

418,770
244,715,444
577,232,150
25,059,429
23,083,701
1,868,443
85,656
1,062,141
4,366
71,350
637,800
7,132
82,124
25,162

144,031
270,210,061
517,238,149
25,280,992
21,680,942
3,328,838
254,316
998,987
1,002,719
-18,432
1,988,718
2,535
215,990
55,222

hunting
(1)
Number of returns..................................................................
3,154,377
Total assets............................................................................ 2,016,708,482
Total receipts......................................................................... 3,910,926,701
Total net income (less deficit)................................................ 183,478,933
Net income (less deficit) from a trade or business................. 150,611,468
25,861,389
Portfolio income (less deficit) distributed to shareholders.....
Dividend income................................................................
1,811,654
9,438,865
Interest income...................................................................
597,672
Royalty income..................................................................
179,589
Net short-term capital gain (less loss)...............................
13,475,631
Net long-term capital gain (less loss).................................
Other portfolio income (net)...............................................
357,978
6,623,212
Real estate rental net income (less deficit)............................
382,863
Net income (less deficit) from other rental activity.................

Wholesale and retail trade
Transportation
Item

Wholesale

Retail

Not

and

trade

trade

allocable

warehousing

(8)

(9)

(10)

(11)

(12)

181,189
211,438,859
683,593,568
21,536,601
18,504,944
2,754,410
126,462
835,020
102,932
-202,256
1,890,726
1,526
227,187
50,059

360,961
256,398,474
930,408,978
16,960,278
14,963,982
1,650,532
73,526
876,037
41,359
-1,410
659,664
1,356
287,299
58,462

98,595
48,745,702
107,714,703
2,087,996
1,511,186
382,623
16,900
191,187
181
-6,312
183,919
-3,252
131,294
62,893

66,829
43,823,073
50,481,304
1,455,751
-194,642
1,584,128
58,018
343,106
21,442
-6,741
1,158,699
9,604
62,729
3,537

Total

(7)
Number of returns..................................................................
542,996
Total assets............................................................................ 467,993,740
Total receipts......................................................................... 1,614,472,031
Total net income (less deficit)................................................
38,494,113
33,465,555
Net income (less deficit) from a trade or business.................
Portfolio income (less deficit) distributed to shareholders.....
4,405,552
Dividend income................................................................
199,990
1,711,665
Interest income...................................................................
Royalty income..................................................................
144,292
Net short-term capital gain (less loss)...............................
-203,666
Net long-term capital gain (less loss).................................
2,550,389
Other portfolio income (net)...............................................
2,882
514,486
Real estate rental net income (less deficit)............................
Net income (less deficit) from other rental activity.................
108,521

*845
156,407
*469,485
*-2,762
*-3,372
610
2
608
-------

Information

Footnotes at end of table.

investments in Government obligations reported the
largest percentage increases by asset category for
Tax Year 2002. Mortgage and real estate loans
increased 37.7 percent to nearly $45.3 billion, and
investments in Government obligations increased 20.6
percent to $36.3 billion.
The two largest components of total liabilities and
equity for Tax Year 2002 were mortgages, notes, and

bonds payable in 1 year or more and total net worth.
Total net worth accounted for $571.1 billion of the
total liabilities, or 28.3 percent. Total net worth is
comprised of capital stock, paid-in capital surplus,
retained earnings unappropriated, and adjustments to
shareholder’s equity, reduced by cost of treasury
stock. Retained earnings unappropriated accounted
for nearly $329.3 billion, or 57.6 percent, of total net
63

S Corporation Returns, 2002

Figure D--Continued
S Corporations: Total Assets, Total Receipts, and Total Net Income (Less Deficit), by Industrial Sector,
Tax Year 2002--Continued
[Money amounts are in thousands of dollars]
Administrative
Item

Real estate

Professional,

Management

Finance

and rental

scientific,

of

and support
and waste

and

and

and technical

companies

management

insurance

leasing

services

(holding

and remediation

companies)

services

(13)

(14)

(15)

(16)

(17)

Number of returns................................................................................
Total assets.........................................................................................
Total receipts.......................................................................................
Total net income (less deficit)..............................................................
Net income (less deficit) from a trade or business..............................
Portfolio income (less deficit) distributed to shareholders...................
Dividend income..............................................................................
Interest income................................................................................
Royalty income................................................................................
Net short-term capital gain (less loss).............................................
Net long-term capital gain (less loss)..............................................
Other portfolio income (net).............................................................
Real estate rental net income (less deficit).........................................
Net income (less deficit) from other rental activity...............................

122,857
171,542,294
82,205,097
14,027,036
11,127,377
2,817,818
367,604
939,819
18,591
386,699
964,266
140,839
74,652
7,190

360,133
213,743,045
79,165,870
11,810,827
4,147,382
2,660,123
199,453
1,369,101
20,621
-9,999
1,071,383
9,565
4,982,776
20,546

480,120
78,213,196
264,049,164
25,187,016
22,120,766
2,949,980
87,063
669,562
14,327
44,088
2,126,876
8,063
99,534
16,736

21,779
207,915,595
15,203,141
6,474,156
4,072,193
2,403,331
353,779
755,675
38,718
-38,428
1,135,950
157,637
-2,037
669

156,956
34,136,274
129,479,166
6,591,167
6,057,867
506,053
27,795
227,023
5,436
559
245,209
32
19,390
7,858

Health care

Arts,

Accommodation

Item

Educational

and social

entertainment,

and food

Other

services

assistance

and recreation

services

services

(18)

(19)

(20)

(21)

(22)

25,307
4,214,342
10,715,107
672,469
603,283
43,984
2,476
27,815
3,281
*356
10,056
-25,150
52

179,005
33,236,367
130,527,843
14,216,508
13,645,671
511,632
8,938
126,870
1
-1,111
376,505
*429
44,070
15,135

74,414
26,812,101
35,597,756
1,728,226
1,293,210
372,102
17,629
174,868
48,226
-16,546
133,590
14,335
53,363
9,551

177,841
70,178,641
134,259,558
4,061,701
3,405,127
537,941
9,557
317,215
12,919
-5,305
203,360
195
108,006
10,627

186,553
28,711,073
83,425,523
3,390,130
2,954,171
395,202
8,668
103,469
--13,218
295,929
*354
38,135
2,622

64
Number of returns................................................................................
Total assets.........................................................................................
Total receipts.......................................................................................
Total net income (less deficit)..............................................................
Net income (less deficit) from a trade or business..............................
Portfolio income (less deficit) distributed to shareholders...................
Dividend income..............................................................................
Interest income................................................................................
Royalty income................................................................................
Net short-term capital gain (less loss).............................................
Net long-term capital gain (less loss)..............................................
Other portfolio income (net).............................................................
Real estate rental net income (less deficit).........................................
Net income (less deficit) from other rental activity...............................

* Estimate should be used with caution because of the small number of sample returns on which it is based.
¹ Includes returns not allocable by industrial sector, which are not shown separately.
NOTE: Detail may not add to totals because of rounding.

64

worth. Mortgages, notes, and bonds payable in 1
year or more accounted for $408.7 billion of the total,
or 20.3 percent.
Four industrial sectors made up nearly $1,196.7
billion (59.3 percent) of total assets: wholesale and
retail trade; manufacturing; construction; and real
estate and rental and leasing (Figure F). Wholesale

and retail trade represented nearly $ 468.0 billion
(23.2 percent) of total assets for S corporations.
S corporations in the manufacturing sector reported
$270.2 billion, or 13.4 percent of total assets. Assets
in the construction sector totaled $244.7 billion and in
the real estate and rental and leasing sector nearly
$213.7 billion.

S Corporation Returns, 2002

Figure E
S Corporation Total Receipts, by Industrial
Sector, Tax Year 2002
Professional, scientific,
and technical services
6.8%
All other ¹
24.0%

Manufacturing
13.2%

$3.9 Trillion

Construction
14.8%
Wholesale
and
retail trade
41.3%
¹ All Other includes: agriculture, forestry, fishing, and hunting; mining;
utilities; transportation and warehousing; information; finance and
insurance; management of companies; real estate and rental and
leasing; administrative and support and waste management and
remediation services; educational services; health care and social
assistance; arts, entertainment, and recreation; accommodation and
food services; other services; and not allocable.

rental real estate expenses, increased $489.1 million
to $4.3 billion.

ShareholderData
Other than individuals, there are five types of entities
that are allowed to be shareholders of an S corporation. These entity types are: estates, trusts, bankrupt
shareholders and bankruptcy estates, charitable
organizations, and employee shareholder trusts. Also,
there are five types of ineligible shareholder entities:
nonresident aliens, nonqualifying trusts, partnerships
and limited liability companies (LLC’s), C corporations, and individual retirement accounts (IRA’s).
The number of S corporation shareholders increased 5.8 percent to 5,681,443 for Tax Year 2002
(Table 5). The total number of returns with only one
shareholder grew 7.4 percent, from 1,684,861 for
2001 to 1,809,402 for 2002 (Table 5). The professional, scientific, and technical services sector accounted for the largest number of returns with one

Figure F
S Corporation Total Assets, by Industrial
Sector, Tax Year 2002
Wholesale
and
retail trade
23.2%

IncomeFromRentalRealEstate
The number of S corporations reporting Rental Real
Estate Income on Form 8825, Rental Real Estate
Income and Expenses of a Partnership or an S
Corporation, increased 5.9 percent to 251.0 thousand (Table 4). Rental real estate expenses
increased $1.5 billion, or 6.5 percent. Depreciation
showed the largest increase for rental real estate
expenses, or $489.1 million. Real estate rental net
income (less deficit) increased by 6.4 percent to $6.6
billion for 2002. The real estate and rental and
leasing sector dominated all other sectors, reporting
nearly $5.0 billion for real estate rental net income
(less deficit) of the $6.6 billion reported for all
industries. This industrial sector also accounted for
69.5 percent of all returns reporting income on Form
8825 and 83.7 percent of gross income reported on
Form 8825.
S corporations reporting rental real estate income
had gross income of $30.0 billion, an increase of 5.2
percent from 2001. Depreciation, a component of

All other ¹
30.4%

$2.0 Trillion

Management
of companies
(holding
companies) Real estate and
10.3%
rental and leasing
10.6%

Manufacturing
13.4%
Construction
12.1%

¹ All Other includes: agriculture, forestry, fishing, and hunting; mining;
utilities; transportation and warehousing; information; finance and
insurance; professional, scientific, and technical services; administrative
and support and waste management and remediation services;
educational services; health care and social assistance; arts,
entertainment, and recreation; accommodation and food services; other
services; and not allocable.

65

S Corporation Returns, 2002

than 35 shareholders, from 81,654 in Tax Year 2001.
The real estate and rental and leasing sector displayed the largest number of S corporations (530)
with more than 35 shareholders.

shareholder, 18.2 percent (Figure G). Approximately
98.8 percent of S corporations had 10 or fewer
shareholders. The wholesale trade and retail trade
sector represented the largest number of returns with
10 or fewer shareholders, 535.9 thousand. S corporations with more than 30 shareholders increased
62.4 percent to 3,729 for Tax Year 2002, and their
total net incomes (less deficit) increased $879.9
million to nearly $6.7 billion in Tax Year 2002. The
real estate rental and leasing sector displayed the
largest number of S corporations (595) with more
than 30 shareholders, or 16.0 percent (Figure F).
The Small Business Job Protection Act of 1996
increased the allowable number of shareholders from
35 to 75. S corporations with more than 35 shareholders increased 77.4 percent, from the 1,536 reported for Tax Year 2001 to 2,726 for Tax Year
2002. Overall, the total number of shareholders
increased to 130,895 for S corporations with more

SCorporationTaxation
S corporations generally do not pay income tax, due
to their treatment as flow-through entities. However,
they may be subject to up to four different types of
Federal income taxes. S corporations are responsible
for the “built-in gains” tax, the excess net passive
income tax, the investment recapture tax, and the
LIFO recapture tax (included in “Adjustments to tax”
in Figure H). (See Explanation of Selected Terms
for further detail.) The built-in gains tax is the most
common of these four. The built-in gains tax represented 75.3 percent, or $277.3 million of all Federal
income tax reported by S corporations for 2002. S
corporations that were previously C corporations and
made a valid S election after 1986 must pay tax on

Figure G
S Corporations: Number of Returns, by Number of Shareholders and Industrial Sector, Tax Year 2002

66

Number of shareholders
Industrial sector

Total

1

1
(1)
All industries ².......................................................................... 3,154,377
77,297
Agriculture, forestry, fishing, and hunting...............................
Mining.....................................................................................
16,598
1,715
Utilities....................................................................................
Construction...........................................................................
418,770
144,031
Manufacturing........................................................................
Wholesale trade and retail trade ³..........................................
542,995
98,595
Transporation and warehousing.............................................
Information.............................................................................
66,829
122,857
Finance and insurance...........................................................
Real estate and rental and leasing.........................................
360,133
Professional, scientific, and technical services......................
480,120
21,779
Management of companies....................................................
Administrative and support and waste management
and remediation services...................................................
156,956
Educational services..............................................................
25,307
179,005
Health care and social assistance..........................................
Arts, entertainment, and recreation........................................
74,414
Accommodation and food services........................................
177,841
Other services........................................................................
186,553

2

3

4-10

11-20

21-30

31 or more

(2)

(3)

(4)

(5)

(6)

(7)

(8)

1,809,402
28,054
7,874
1,156
249,854
59,648
286,584
54,845
40,758
80,678
176,390
328,922
9,478

937,771
31,358
4,563
113
126,669
54,056
182,999
32,806
15,856
27,677
108,408
116,675
6,033

178,185
5,817
1,266
*53
21,755
11,511
32,369
5,335
4,599
6,851
31,257
17,511
1,842

192,241
10,716
1,845
377
18,918
15,818
33,936
4,858
4,348
6,261
39,791
13,788
3,303

15,758
701
576
12
935
1,238
3,085
679
696
419
2,496
989
681

4,143
204
11
**
82
725
1,202
64
125
85
772
95
129

3,729
60
*463
**
157
219
70
*8
18
487
595
160
313

93,747
17,925
140,495
41,950
79,664
109,334

50,535
4,733
26,365
21,428
66,240
60,723

6,691
1,372
4,236
4,095
13,666
7,959

5,868
531
5,178
6,480
14,338
5,886

58
*3
957
178
1,545
510

**
-480
12
44
*103

**
*338
114
271
367
*35

* Data should be used with caution because of the small number of sample returns on which they are based.
** Not shown to avoid disclosure of information about specific taxpayers. However, the data are included in the appropriate totals.
¹ Total includes S corporations for which neither a number of shareholders was reported nor a Schedule K-1, Shareholder's Share of Income, Credits, Deductions, etc., was filed.
² Includes returns not allocable by industrial sector, which is not shown separately.
³ This industrial sector includes "Wholesale and retail trade not allocable", which is not shown separately,
NOTE: Detail may not add to totals because of rounding.

66

S Corporation Returns, 2002

any realized gain from the sale of certain assets.
These assets must be held at the time of election, and
the sale must be made within 10 years from the first
day of the S corporation’s election for the built-in
gains tax to apply. The built-in gains tax is limited to
net appreciation occurring prior to a C corporation’s
election as an S corporation. S corporations that had
a valid S election since the inception of the business
are not subject to the built-in gains tax [8].
The excess net passive income tax, the investment recapture tax, and the LIFO recapture tax also
apply to corporations that operated as taxable corporations before making their S elections. The excess
net passive income tax applies only to S corporations
with net passive investment income accounting for
more than 25 percent of gross receipts and with
subchapter C earnings. S corporations are required
to pay the investment credit recapture tax on the
recapture attributable to credits allowed on the corporation in the years prior to the S election. The last-in,
first-out, (LIFO) recapture tax does not apply to S
corporations that made an S election prior to December 18, 1987, and use the LIFO method to value
inventory. A LIFO recapture amount, which is the
amount of inventory valued under the first-in, first-out
(FIFO) method that exceeds the inventory valued
under LIFO, is required to be included in gross income after a corporation converts to an S corporation. Inventory that is transferred to an S corporation
during a tax-free reorganization of a C corporation is
also subject to the LIFO recapture tax.
S corporations reported total net income of
$183.5 billion and total tax liability of $368.2 million
during Tax Year 2002. The total tax reported for all
S corporations decreased 0.3 percent from 2001 to
2002 as shown in Figure H. The built-in gains tax
decreased 8.6 percent to $277.3 million for Tax Year
2002. Excess net passive income tax increased 35.7
percent to $12.4 million, and the investment recapture
tax nearly quadrupled in size to $0.6 million for Tax
Year 2002. Also displayed in this figure are the
adjustments to tax, which include Section 1363(d)
LIFO recapture taxes and interest due from Form
8697, Interest Computation under Look-Back
Method for Completed Long-Term Contracts. The
income tax adjustment includes Section 1291(c)(2)
deferred tax of a shareholder in a passive foreign
investment company.

Figure H
S Corporation Taxes, Tax Years 2001 and 2002
[Money amounts are in thousands of dollars]
2002

Percent
change

(1)

(2)

(3)

369,166
303,236
9,131
53,974
120
2,707

368,227
277,288
12,389
75,320
624
2,606

-0.3
-8.6
35.7
39.5
420.6
-3.7

Item

2001

Total tax...................................................
Built-in gains tax…………………..........
Excess net passive income tax.............
Adjustments to tax………………...........
Investment credit recapture tax.............
Income tax adjustment…………............

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

Of the nearly 3.2 million S corporations that filed
in 2002, only 9,231 reported tax liability. Overall, S
corporations reporting tax liability represent only 0.3
percent of all S corporation returns filed.

Summary
ˆ For Tax Year 2002, the number of S corporations grew to nearly 3.2 million, an increase of
5.6 percent in the number of returns filed as
compared to Tax Year 2001. S corporations
remain the most popular corporate entity with
59.8 percent of all U.S. corporations electing
Federal tax treatment under Subchapter S. The
number of shareholders for S corporations
increased to nearly 5.7 million, up 5.8 percent
from the previous year.

ˆ Total net income (less deficit) declined $4.2
billion to $183.5 billion for Tax Year 2002 from
$187.7. As the largest component of total net
income (less deficit), net income from a trade or
business accounted for 82.1 percent of the total,
up from the 76.0 percent reported for Tax Year
2001. Portfolio income (less deficit) distributed
to shareholders declined by $12.3 billion, a
decrease of 32.3 percent, with most of this drop
coming from a $9.7-billion reduction in net longterm capital gain (less loss).

ˆ Nearly two-thirds, 62.0 percent, of all S corporations reported positive total net income. S corporations reported $246.5 billion in positive total
net income for Tax Year 2002, a decline of $2.3
67

S Corporation Returns, 2002

billion. Four industrial sectors accounted for
57.9 percent of positive total net income reported by S corporations for Tax Year 2002.

ˆ Total assets increased $133.7 billion for Tax
Year 2002, a 7.1-percent increase from Tax
Year 2001 when S corporations reported $1.8
trillion. Four industrial sectors accounted for
59.3 percent of total assets reported. Total net
worth accounted for $571.1 billion of total
liabilities, or 28.3 percent.

ˆ Less than half of 1.0 percent of all S corporations reported Federal tax liability, for a total tax
liability of $368.2 million. This was a 0.3-percent
decrease from the previous year, when $369.2
million were reported. The largest component
of total tax liability was the built-in gains tax of
$277.3 million, reflecting a decline of 8.6 percent
from 2001.

ExplanationofSelectedTerms

68

68

Built-in Gains Tax.--The built-in gains tax is a
corporate level tax on S corporations that dispose of
assets that appreciated in value during years when
the corporation was a C corporation. The S corporation may be liable for the tax on its built-in gains if: it
was a C corporation prior to making its S election;
the S corporation election was made after 1986; it
has net recognized built-in gain within the recognition
period; and the net recognized built-in gain for the tax
year does not exceed the net unrealized gain minus
the net recognized built-in gain for prior years in the
recognition period, to the extent that such gains were
subject to tax.
Excessive Net Passive Income.--The excess net
passive income is the income that bears the same
ratio to net passive income as the amount of passive
investment income, exceeding 25 percent of gross
receipts, bears to passive investment income.
Investment Recapture Tax.--S corporations are
liable for recapture attributable to credits allowed in
years before the corporation was an S corporation.
LIFO Recapture Tax.--The last in, first out
(LIFO) recapture amount is the amount, if any, by
which the amount of inventory assets using the first
in, first out (FIFO) method exceeds the inventory
amount of such assets under the LIFO method.

Limited Liability Company (LLC).--The limited
liability company is a State-registered entity that can
be taxed like a partnership for Federal income tax
purposes, but its members, like corporate shareholders, are not personally liable for the entity’s liabilities.
Net Depreciable Assets.--Net depreciable
assets are depreciable assets reduced by accumulated depreciation as reported on the Balance Sheet,
Schedule L, of Form 1120S.
Net Intangible Assets.--Net intangible assets are
intangible assets reduced by accumulated amortization as reported on the Balance Sheet, Schedule L, of
Form 1120S.
Net Notes and Accounts Receivable.--Net notes
and accounts receivable are notes and accounts
receivable reduced by allowance for bad debts on the
Balance Sheet, Schedule L, of Form 1120S.
Net Passive Income.--Net passive investment
income is passive investment income reduced by any
allowable deduction directly connected with the
production of such income, except for the net operating loss deduction under Internal Revenue Code
section 172 and the special deductions allowed to
corporations by Internal Revenue Code section 241.
North American Industry Classification System.--In 1997, the North American Standard Industry
Classification System (NAICS) replaced the Standard Industrial Classification (SIC) system. The IRS
began using the NAICS coding system for S corporations in 1998. The NAICS classification system is
amended every 5 years to include changes for evolving industries. NAICS 2002 was the first revision to
the system and included changes in the structure for
both the construction and information sectors, along
with greater detail for the retail trade sector.
S corporation industries were determined from
which activity the business derived the largest percentage of its “total receipts.” Total receipts were
defined as the sum of:

ˆ Gross receipts, or sales;
ˆ Net gain from Form 4797, Sales of Business
Property;

ˆ Other income;
ˆ Gross income from other rental activities;
ˆ Portfolio interest income;

S Corporation Returns, 2002

ˆ Portfolio ordinary income;
ˆ Portfolio royalty income;
ˆ Net short-term capital gains;
ˆ Net long-term capital gains;
ˆ Other portfolio income;
ˆ Net section 1231 gain;
ˆ Other income from Schedule K, Shareholders’
Shares of Income, Credits, Deductions, etc.;

ˆ Gross rents from rental real estate;
ˆ Net gain from the disposition of property from
rental real estate activities; and

ˆ Net income from rental real estate activities
from partnerships, estates, and trusts in which
this S corporation is a partner or beneficiary.
(Total receipts for the S corporation industry coding
purposes differ from total receipts used elsewhere in
this article and are defined under Total Receipts in
this section.)
Passive Investment Income.--Passive investment income is gross receipts derived from royalties,
rents, dividends, interest (excluding interest on installment sales of inventory to customers and income of
certain lending and financing businesses), annuities,
and sales or exchanges of stock or securities to the
extent of any gain.
Portfolio Income (less deficit).--Portfolio income
(less deficit) is interest, dividends, annuities, and
royalties, as well as gain or loss from the disposition
of income-producing or investment property that is
not derived in the ordinary course of trade or business.
Qualified Subchapter S Subsidiaries (QSUB).-Qualified subchapter S Subsidiaries are any domestic
subsidiaries of an S corporation that is not an ineligible corporation under Subchapter S of the Internal
Revenue Code, and in which the S corporation holds
100 percent of the stock and elects to treat the subsidiary as a QSUB.
Small Business Job Protection Act of 1996.-The Small Business Job Protection Act of 1996
increased the number of permitted shareholders for
S corporations from 35 to 75; allowed an electing
small business trust with multiple beneficiaries to

qualify as an S corporation shareholder, allowed
charitable organizations and qualified retirement plans
(but not individual retirement accounts) to be S corporation shareholders, allowed corporations with
subsidiaries to become S corporations, and provided
a special qualified subchapter S subsidiary election
so that wholly owned subsidiaries could be considered part of the S corporation for Federal income
tax purposes.
Total Deductions.--Total deductions are the sum
of cost of goods sold; compensation of officers;
salaries and wages; repairs; bad debts; rent paid on
business property; taxes paid; interest paid; amortization; depreciation; depletion; advertising; pension,
profit-sharing, stock, bonus, and annuity plans; employee benefit programs; net loss, noncapital assets;
and other deductions from the income statement of
Form 1120S.
Total Net Income (less deficit).--Since the Tax
Reform Act of 1986, total net income (less deficit) is
defined as the sum of: ordinary income (loss), ordinary dividends, interest income, royalty income, other
portfolio income, net income (loss) from rental real
estate activities, net income (loss) from other rental
activities, total net long-term capital gain (loss), and
net short-term capital gain (loss). Prior to 1987, S
corporation net income (less deficit) included most of
the components of total net income (less deficit)
above. The sum of the above components is a comprehensive measure of S corporation profits and
losses that enables comparisons to be made with
years prior to 1987.
Total Receipts.--Total receipts are the sum of
business receipts; interest on Government obligations,
State and local; net gain, noncapital assets; and other
receipts. S corporations report receipts for interest,
rents, royalties, net capital gains, and dividends on
Form 1120S, Schedule K, and these items are not
included in the statistics.
Trust.--Trust refers to “electing small business
trust,” which can be an S corporation shareholder.
An electing trust is one that does not have as a beneficiary any person other than an individual, an estate,
or an organization eligible to accept charitable contributions under Internal Revenue Code section 170 and
does not have “potential current beneficiaries.” This
type of trust is different from the qualified subchapter
S trust (QSST).
69

S Corporation Returns, 2002

DataSourcesandLimitations
The statistics for Tax Year 2002 are based on a
sample of S corporation income tax returns with
accounting periods ending July 2002 through June
2003 that posted to the Internal Revenue Service
Business Master File between July 2002 and the end
of June 2004.
The estimates in this article were based on a
stratified probability sample of 48,380 S corporation
returns drawn from a total population of 3,325,985
returns. The stratification was based on combinations
of total assets and ordinary income. Sample rates
ranged from 0.25 percent to 100 percent. The
sample was selected after administrative processing,
but before audit examination. The selected sample
included 47,432 active S corporation returns. Based
on this count, the number of active S corporations for
Tax Year 2002 was estimated to be 3,154,377.
Because the estimates are based on a sample,
they are subject to sampling error. Coefficients of
variation (CV’s) are used to measure the magnitude

of this sampling error. The CV is defined in the section
on sampling variability in the “SOI Sampling Methodology and Data Limitations” appendix of this publication. Figure I presents the coefficients of variation
for S corporations for selected variables by industrial
sector. The smaller the coefficient of variation, the
more reliable the estimate is judged to be.

NotesandReferences
[1] For detailed information on the impact of the
Tax Reform Act of 1986, the Revenue Reconciliation Act of 1993, and the Small Business Job
Protection Act of 1996 on S corporations, see
the following articles. For more information on
the impact of the Tax Reform Act of 1986 on
S corporations, see Gill, Amy, “S Corporation
Returns, 1992,” Statistics of Income Bulletin,
Spring 1995, Volume 14, Number 4; and Gill,
Amy and Wittman, Susan, “S Corporation
Election After the Tax Reform Act of 1986,”

Figure I
70
Coefficients of Variation for Number of Returns, Number of Shareholders, Total Receipts, Dividends,
and Interest, by Industrial Sector, Tax Year 2002
Number of

Number of

Total

Dividend

Interest

returns

shareholders

receipts

income

income

(1)

(2)

(3)

(4)

(5)

All industries ¹........................................................................

0.24

0.96

0.65

3.57

1.83

Agriculture,forestry,fishing,and hunting....................................
M ining..........................................................................................
U tilities.........................................................................................
C onstruction ...............................................................................
M anufacturing.............................................................................
W holesale and retailtrade ²........................................................
Transportation and warehousing.................................................
Inform ation..................................................................................
Finance and insurance................................................................
R ealestate and rentaland leasing..............................................
Professional,scientific,and technicalservices...........................
M anagem entofcom panies (holding com panies).......................
Adm inistrative and supportand w aste
m anagem entand rem ediation services...................................
Educationalservices...................................................................
H ealth care and socialassistance..............................................
Arts,entertainm ent,and recreation.............................................
Accom m odation and food services.............................................
O therservices.............................................................................

4.23
12.11
39.95
1.36
3.66
1.49
4.58
6.11
3.65
1.59
1.52
11.06

6.06
31.10
35.38
2.13
4.08
2.45
5.96
7.27
5.79
3.32
2.17
11.16

5.86
7.51
7.66
1.59
1.28
4.69
6.05
4.36
5.36
4.78
1.56

40.54
3.25
0.10
11.37
2.15
9.37
24.56
3.46
1.61
5.21
15.79
15.51

7.44
5.38
8.84
3.76
6.03
5.44
9.66
8.42
5.57
5.27
7.27
5.63

3.71
10.46
2.31
5.21
2.33
2.88

4.39
30.23
5.82
12.41
4.16
3.97

5.11
13.19
5.60
6.48
2.98
4.82

34.75
66.84
20.14
15.25
13.40
34.74

5.89
30.99
15.17
21.55
8.79
11.85

Industrial sector

¹ Includes returns not allocable by industrial sector, which are not shown separately.
² This industrial sector includes "Wholesale and retail trade not allocable", which is not shown separately.

70

S Corporation Returns, 2002

Statistics of Income Bulletin, Spring 1998,
Volume 17, Number 4. For more information on
the impact of the Revenue Reconciliation Act of
1993, see Wittman, Susan, “S Corporation
Returns, 1994,” Statistics of Income Bulletin,
Spring 1997, Volume 16, Number 4. For more
information on the impact of the Small Business
Job Protection Act of 1996, see Wittman, Susan,
“S Corporation Returns, 1997,” Statistics of
Income Bulletin, Spring 2000, Volume 19,
Number 4.
[2] For the purpose of this article, taxable corporations are corporations that file the following
types of returns: Form 1120, Form 1120-A,
Form 1120F, Form 1120L, and Form 1120-PC.
Form 1120-REIT and Form 1120-RIC, while not
filed by taxable corporations, are included in the
statistics. Limited liability companies that
choose to be taxed as a corporation can file
Form 1120; if they meet the conditions for S
corporation status, LLC’s that choose corporate
treatment may make an S corporation election
and file Form 1120S. Only an “LLC” designation in the name can identify the unincorporated
associations. The number of returns with an
“LLC” designation in the Statistics of Income
corporate file is unpublished and small. Partnership returns indicating that they are LLC’s are
included in the partnership statistics because
most LLC’s file a partnership return for Federal
tax purposes. For more information on the
impact of LLC’s on partnership data, see
Wheeler, Tim and Parsons, Maureen, “Partnership Returns, 2002,” Statistics of Income
Bulletin, Fall 2003, Volume 24, Number 2.
[3] Provisions exist to allow for late-filed elections
to be considered as timely made. See Revenue

Procedure 97-40 for extended filings. For
further detail on filing an S election, see Internal
Revenue Service, Internal Revenue Code,
Subchapter S [Section 1362(a), (b)].
[4] Eligible trusts are defined in the Internal
Revenue Code section 1361(c)(2)(A); eligible
trusts are trusts that are treated as owned by an
individual who is a citizen or resident of the
United States. Eligible exempt organizations
are described in Internal Revenue Code
section 401(a) and section 501(c)(3); these
organizations include qualified pension plans,
profit- sharing plans, stock bonus plans, and
certain organizations exempt from Federal
income taxes.
[5] Calendar-year S corporations are defined as
full-year S corporations with an accounting
period ending in December or part-year S
corporations with an accounting period ending in
December. S corporations may elect another
tax year if a business purpose can be justified to
the satisfaction of the Internal Revenue Service
(IRS), or they may use an alternate tax year but
make “required payments” to the IRS per
Internal Revenue Code section 1378.
[6] For further detail, see Bennett, Kelly, “S Corporation Returns, 2001,” Statistics of Income
Bulletin, Spring 2004, Volume 23, Number 4.
[7] Ibid. (see [6]).
[8] For further detail, see Internal Revenue Service,
Internal Revenue Code, Subchapter S, Section
1374. Also see Gill, Amy, “S Corporation
Returns, 1992,” Statistics of Income Bulletin,
Spring 1995, Volume 14, Number 4.
Source: IRS, Statistics of Income Spring Bulletin,
Publication 1136, June 2005.

71

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Agriculture, forestry, fishing, and hunting

Construction

Support
All
Item

industries ¹

Agriculture
Total

production

Forestry

activities

and

and fishing,

logging

hunting and

Mining

Utilities

Total

trapping
(1)

72

Number of returns..............................................
3,154,377
Number of shareholders................................
5,681,443
Total receipts ²................................................... 3,910,926,701
Business receipts.......................................... 3,841,281,106
Interest on Government obligations:
1,236,779
State and local ².........................................
7,086,227
Net gain, noncapital assets...........................
Other receipts................................................
61,322,590
Total deductions................................................ 3,759,078,454
Cost of goods sold......................................... 2,386,824,120
Compensation of officers............................... 151,988,774
Salaries and wages....................................... 418,993,431
Repairs..........................................................
24,610,355
8,844,398
Bad debts.......................................................
Rent paid on business property..................... 105,573,552
Taxes paid.....................................................
80,827,691
Interest paid...................................................
38,783,242
5,487,574
Amortization...................................................
Depreciation..................................................
78,299,503
Depletion.......................................................
343,638
36,889,977
Advertising.....................................................
Pension, profit-sharing, stock bonus,
16,096,900
and annuity plans......................................
34,873,070
Employee benefit programs...........................
Net loss, noncapital assets............................
853,848
Other deductions .......................................... 369,788,383
Total receipts less total deductions ²................. 151,848,247
Net income (less deficit) from a trade or
business ²...................................................... 150,611,468
Net income..................................................... 215,480,028
64,868,559
Deficit.............................................................
Portfolio income (less deficit) distributed to
shareholders..................................................
25,861,389
Dividend income............................................
1,811,654
Interest income..............................................
9,438,865
597,672
Royalty income..............................................
179,589
Net short-term capital gain (less loss)...........
13,475,631
Net long-term capital gain (less loss)............
357,978
Other portfolio income (net)...........................
6,623,212
Real estate rental net income (less deficit)........
9,379,673
Net income.....................................................
2,756,461
Deficit.............................................................
Net income (less deficit) from other rental
382,863
activity............................................................
1,236,094
Net income.....................................................
853,230
Deficit.............................................................
Total net income (less deficit)............................ 183,478,933
Net income..................................................... 246,533,627
63,054,694
Deficit.............................................................
Footnotes at end of table.

72

(2)

(3)

(4)

(5)

(6)

(7)

(8)

77,297
180,399
55,885,133
52,017,946

52,459
123,390
36,464,185
33,286,956

7,349
15,866
6,388,796
6,294,833

17,489
41,143
13,032,152
12,436,156

16,598
54,739
19,980,245
18,894,215

1,715
3,485
3,204,349
3,108,391

418,770
683,934
577,232,150
572,115,769

22,660
382,318
3,462,209
56,400,689
28,013,195
1,161,712
4,801,213
1,398,787
83,671
2,620,593
1,095,184
1,165,481
43,603
3,273,549
22,006
216,283

19,146
271,997
2,886,085
37,477,495
16,028,092
571,996
3,496,523
943,623
27,096
2,254,166
735,108
915,525
32,211
2,289,668
11,406
163,893

3,067
21,866
69,030
6,584,410
4,046,846
195,473
485,671
135,634
37,631
88,685
123,551
124,284
3,688
492,588
10,597
8,077

*447
88,455
507,094
12,338,784
7,938,258
394,243
819,018
319,530
18,944
277,742
236,526
125,672
7,705
491,292
3
44,313

16,458
162,077
907,495
17,925,048
8,122,798
500,979
1,219,050
359,698
21,188
778,378
658,834
399,454
33,046
1,265,748
150,578
24,425

430
2,729
92,799
3,058,805
2,100,951
57,323
164,408
19,930
12,669
61,549
60,292
48,063
5,903
111,091
-17,524

83,254
553,049
4,480,078
554,065,196
422,489,079
19,155,394
29,885,976
2,441,944
1,013,193
9,165,156
9,623,294
3,620,458
180,754
10,084,940
28,712
1,987,516

104,574
399,734
20,012
11,981,092
-515,557

64,591
311,221
19,426
9,612,952
-1,013,311

20,624
26,546
*562
783,952
-195,614

19,359
61,967
*24
1,584,188
693,368

85,688
217,847
3,431
4,083,906
2,055,197

10,565
20,137
*3,147
365,251
145,544

2,030,729
5,580,415
72,544
36,705,092
23,166,954

-538,216
2,677,530
3,215,746

-1,032,457
1,608,487
2,640,944

-198,681
186,893
385,574

692,922
882,149
189,228

2,038,739
2,819,738
780,999

145,114
294,677
149,563

23,083,701
29,848,407
6,764,707

579,799
37,824
192,074
49,855
-7,336
301,696
5,686
166,094
176,535
10,442

465,597
15,016
152,835
47,225
-4,834
249,765
5,590
160,938
166,465
5,527

48,985
4,582
16,585
1,599
-1,070
27,192
96
-1,559
1,482
3,041

65,216
18,226
22,653
*1,031
-1,432
24,739
-6,714
8,588
*1,874

458,512
72,249
203,294
112,671
-15,990
84,345
1,942
12,556
17,841
5,286

55,051
3,738
24,716
26
19,627
6,944
-*-5,100
92
*5,192

1,868,443
85,656
1,062,141
4,366
71,350
637,800
7,132
82,124
401,072
318,948

22,932
31,956
*9,024
230,608
3,200,935
2,970,328

21,785
30,760
*8,975
-384,137
2,034,049
2,418,186

584
633
49
-150,670
219,363
370,033

562
562
-765,415
947,523
182,109

13,209
16,977
3,768
2,523,015
3,214,475
691,460

404
404
-195,469
308,734
113,265

25,162
37,825
12,663
25,059,429
31,593,803
6,534,374

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Construction--continued

Manufacturing

Heavy
Item

Construction

and

Specialty

of

civil

trade

engineering

contractors

buildings

Total

Beverage

Textile

Food

and

mills and

Apparel

manufacturing

tobacco

textile

manufacturing

construction

Number of returns..............................................
Number of shareholders................................
Total receipts ²...................................................
Business receipts..........................................
Interest on Government obligations:
State and local ².........................................
Net gain, noncapital assets...........................
Other receipts................................................
Total deductions................................................
Cost of goods sold.........................................
Compensation of officers...............................
Salaries and wages.......................................
Repairs..........................................................
Bad debts......................................................
Rent paid on business property.....................
Taxes paid.....................................................
Interest paid...................................................
Amortization...................................................
Depreciation..................................................
Depletion.......................................................
Advertising.....................................................
Pension, profit-sharing, stock bonus,
and annuity plans......................................
Employee benefit programs...........................
Net loss, noncapital assets............................
Other deductions ..........................................
Total receipts less total deductions ².................
Net income (less deficit) from a trade or
business ²......................................................
Net income.....................................................
Deficit.............................................................
Portfolio income (less deficit) distributed to
shareholders..................................................
Dividend income............................................
Interest income..............................................
Royalty income..............................................
Net short-term capital gain (less loss)...........
Net long-term capital gain (less loss)............
Other portfolio income (net)...........................
Real estate rental net income (less deficit).......
Net income.....................................................
Deficit.............................................................
Net income (less deficit) from other rental
activity............................................................
Net income.....................................................
Deficit.............................................................
Total net income (less deficit)............................
Net income.....................................................
Deficit.............................................................

product

product

manufacturing

mills

(9)

(10)

(11)

(12)

(13)

(14)

(15)

(16)

127,568
204,890
249,252,140
247,206,543

47,479
107,422
99,541,380
97,551,474

243,723
371,623
228,438,629
227,357,752

144,031
332,494
517,238,149
512,397,303

6,117
20,076
58,985,124
58,552,117

623
2,536
7,059,548
6,978,152

2,156
4,574
10,232,373
10,129,511

6,697
13,093
28,811,811
28,421,832

39,338
103,193
1,903,067
240,439,969
205,925,296
5,806,363
7,407,897
502,094
286,111
1,865,210
2,432,776
1,296,961
74,262
1,791,284
*662
628,394

27,252
234,139
1,728,515
96,023,223
71,406,625
2,396,155
4,581,546
681,421
198,446
2,575,362
1,686,802
1,106,374
35,120
3,133,634
23,860
215,100

16,663
215,718
848,496
217,602,004
145,157,159
10,952,876
17,896,533
1,258,429
528,636
4,724,584
5,503,716
1,217,123
71,373
5,160,022
*4,190
1,144,022

135,586
744,799
3,960,460
495,421,621
345,803,671
15,118,584
40,061,444
2,482,688
1,211,603
10,090,907
11,158,114
5,186,015
701,494
15,961,681
97,350
4,681,274

7,113
111,588
314,307
56,877,663
43,646,708
879,847
3,359,331
318,382
77,036
664,944
766,936
485,167
74,395
1,590,367
*70
822,537

6,084
5,542
69,771
6,562,122
4,035,596
126,513
627,811
46,430
9,381
90,227
523,151
74,501
21,837
307,291
4,988
154,760

2,747
7,268
92,846
9,956,881
7,390,981
308,357
635,075
37,965
29,156
223,438
218,220
105,971
9,251
293,820
-57,981

8,140
26,352
355,487
27,530,217
19,935,238
891,990
2,290,878
79,377
87,470
543,361
618,633
231,097
16,157
288,259
-315,323

629,405
1,187,353
35,932
10,569,970
8,812,171

343,456
894,286
8,784
6,736,252
3,518,158

1,057,867
3,498,775
27,828
19,398,871
10,836,625

2,345,819
7,317,125
90,246
33,113,605
21,816,528

227,162
642,177
12,966
3,309,638
2,107,462

34,708
114,653
764
389,511
497,426

40,433
137,482
631
468,118
275,492

62,019
210,814
6,115
1,953,486
1,281,594

8,772,833
10,975,938
2,203,105

3,490,905
5,429,661
1,938,756

10,819,962
13,442,808
2,622,846

21,680,942
29,715,339
8,034,398

2,100,349
2,617,354
517,005

491,342
578,120
86,778

272,745
552,030
279,285

1,273,454
1,479,235
205,781

633,768
38,397
447,898
1,154
-20,350
159,725
6,946
50,137
174,191
124,053

952,089
19,301
387,516
2,867
114,572
427,652
181
1,252
194,665
193,413

282,586
27,958
226,727
*346
-22,872
50,423
4
30,735
32,216
1,481

3,328,838
254,316
998,987
102,719
-18,435
1,988,718
2,535
215,990
238,895
22,906

183,710
15,165
78,013
1,416
-6,087
95,051
151
11,104
16,558
5,454

80,610
3,731
20,069
--53
56,839
24
8,647
8,668
21

23,799
2,798
14,320
1,822
-2,852
7,737
-26
6,247
6,270
23

491,756
3,232
22,444
11,713
882
453,191
294
9,189
9,772
583

-1,523
6,380
7,903
9,455,216
11,558,312
2,103,096

4,372
9,113
4,741
4,448,618
6,313,124
1,864,506

22,313
22,333
20
11,155,595
13,722,367
2,566,772

55,222
65,361
10,139
25,280,992
32,875,601
7,594,609

1,088
2,390
1,302
2,296,250
2,790,272
494,022

3,439
3,752
313
584,039
653,042
69,003

305
305
-303,096
580,587
277,491

294
294
-1,774,693
1,972,406
197,713

Footnotes at end of table.

73

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Manufacturing--continued

Leather

Plastics

and
Item

74

Number of returns..............................................
Number of shareholders................................
Total receipts ²...................................................
Business receipts..........................................
Interest on Government obligations:
State and local ².........................................
Net gain, noncapital assets...........................
Other receipts................................................
Total deductions................................................
Cost of goods sold.........................................
Compensation of officers...............................
Salaries and wages.......................................
Repairs..........................................................
Bad debts......................................................
Rent paid on business property.....................
Taxes paid.....................................................
Interest paid...................................................
Amortization...................................................
Depreciation..................................................
Depletion.......................................................
Advertising.....................................................
Pension, profit-sharing, stock bonus,
and annuity plans......................................
Employee benefit programs...........................
Net loss, noncapital assets............................
Other deductions ..........................................
Total receipts less total deductions ².................
Net income (less deficit) from a trade or
business ²......................................................
Net income.....................................................
Deficit.............................................................
Portfolio income (less deficit) distributed to
shareholders..................................................
Dividend income............................................
Interest income..............................................
Royalty income..............................................
Net short-term capital gain (less loss)...........
Net long-term capital gain (less loss)............
Other portfolio income (net)...........................
Real estate rental net income (less deficit).......
Net income.....................................................
Deficit.............................................................
Net income (less deficit) from other rental
activity............................................................
Net income.....................................................
Deficit.............................................................
Total net income (less deficit)............................
Net income.....................................................
Deficit.............................................................
Footnotes at end of table.

74

Printing

Petroleum

and

Nonmetallic

allied

Wood

Paper

and related

and coal

Chemical

rubber

mineral

product

product

manufacturing

support

products

manufacturing

products

product

manufacturing

manufacturing

activities

manufacturing

manufacturing

manufacturing

(17)

(18)

(19)

(20)

(21)

(22)

(23)

(24)

1,005
1,638
3,560,968
3,523,651

6,404
14,587
30,913,290
30,626,187

1,825
5,048
16,400,214
16,278,656

20,078
42,810
29,575,777
29,227,920

739
2,225
6,823,841
6,796,377

4,617
12,328
22,499,245
22,309,034

6,963
20,179
36,081,913
35,898,929

4,465
11,271
16,688,105
16,472,034

*445
*383
36,489
3,218,732
2,206,551
97,142
297,560
7,935
5,718
45,948
61,458
36,788
3,025
49,052
-94,764

4,347
36,104
246,653
29,894,410
22,789,725
639,502
1,810,292
166,640
42,554
372,201
561,870
331,897
26,210
893,670
66,838
152,824

11,086
22,148
88,324
16,097,587
11,527,284
402,385
1,278,870
75,304
33,234
352,375
323,684
291,133
21,962
643,196
-58,161

4,045
97,274
246,539
28,455,481
16,645,333
1,226,919
3,229,068
193,143
90,102
1,006,839
750,553
386,110
67,309
1,319,839
-319,905

2,341
2,546
22,577
6,518,543
5,362,818
105,839
240,245
32,197
7,554
94,934
67,654
42,673
4,302
185,797
3,988
18,165

4,010
12,376
173,825
21,014,485
13,108,530
790,767
2,131,954
136,116
110,486
425,586
435,742
198,323
28,746
577,966
1,998
447,507

13,689
65,549
103,746
34,700,445
24,630,379
981,625
2,454,255
176,329
96,475
677,558
772,023
405,106
49,280
1,429,774
-222,879

3,321
56,328
156,421
15,920,213
10,251,813
404,445
1,334,684
184,477
48,298
468,531
425,465
191,228
28,022
912,115
18,962
93,755

7,328
32,965
145
272,352
342,236

117,560
361,506
6,014
1,555,108
1,018,880

105,585
236,829
466
747,120
302,628

137,617
351,688
3,999
2,727,059
1,120,296

22,247
43,026
41
287,062
305,298

135,588
273,146
5,513
2,206,516
1,484,760

162,216
581,027
1,699
2,059,820
1,381,469

77,295
257,475
2,566
1,221,081
767,892

341,791
363,414
21,623

1,014,533
1,467,206
452,673

291,542
711,045
419,503

1,116,251
1,623,305
507,054

302,957
394,901
91,944

1,480,750
1,733,071
252,321

1,367,779
1,963,947
596,168

764,571
1,048,129
283,558

11,778
2,308
8,886
-135
*450
-83
107
24

191,009
3,735
53,176
*3,571
-635
130,752
*411
7,476
8,681
1,205

36,089
14,290
21,843
4,569
-5,150
379
159
6,224
6,406
182

135,547
2,432
72,969
144
-1,507
61,343
*166
7,074
7,204
131

5,550
2,356
12,758
57
-4,218
-5,402
-4,107
4,148
40

536,481
11,275
40,925
13,765
-4,772
475,162
*125
1,336
2,076
741

167,620
3,990
106,836
3,536
-4,769
57,816
211
2,431
6,224
3,793

167,878
4,315
30,040
5,716
2,900
124,769
*138
24,330
24,812
482

-46
30
76
353,607
372,069
*18,462

2,815
3,475
660
1,215,833
1,616,703
400,870

194
327
133
334,049
729,572
395,523

3,548
3,598
50
1,262,420
1,753,750
491,330

*100
*134
34
312,715
404,119
91,404

390
1,050
660
2,018,957
2,262,506
243,549

2,907
*3,220
312
1,540,738
2,126,214
585,476

1,160
1,160
-957,939
1,199,446
241,508

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Manufacturing--continued

Item

Primary

Fabricated

metal

metal

manufacturing

product

Computer

Electrical

and

equipment,

Transportation

Furniture

Machinery

electronic

appliance,

equipment

and related

Miscellaneous

manufacturing

product

and

manufacturing

product

manufacturing

manufacturing

component

manufacturing

Number of returns..............................................
Number of shareholders................................
Total receipts ²...................................................
Business receipts..........................................
Interest on Government obligations:
State and local ².........................................
Net gain, noncapital assets...........................
Other receipts................................................
Total deductions................................................
Cost of goods sold.........................................
Compensation of officers...............................
Salaries and wages.......................................
Repairs..........................................................
Bad debts......................................................
Rent paid on business property.....................
Taxes paid.....................................................
Interest paid...................................................
Amortization...................................................
Depreciation..................................................
Depletion.......................................................
Advertising.....................................................
Pension, profit-sharing, stock bonus,
and annuity plans......................................
Employee benefit programs...........................
Net loss, noncapital assets............................
Other deductions ..........................................
Total receipts less total deductions ².................
Net income (less deficit) from a trade or
business ²......................................................
Net income.....................................................
Deficit.............................................................
Portfolio income (less deficit) distributed to
shareholders..................................................
Dividend income............................................
Interest income..............................................
Royalty income..............................................
Net short-term capital gain (less loss)...........
Net long-term capital gain (less loss)............
Other portfolio income (net)...........................
Real estate rental net income (less deficit).......
Net income.....................................................
Deficit.............................................................
Net income (less deficit) from other rental
activity............................................................
Net income.....................................................
Deficit.............................................................
Total net income (less deficit)............................
Net income.....................................................
Deficit.............................................................

manufacturing

(25)

(26)

(27)

(28)

manufacturing
(29)

(30)

(31)

(32)

4,512
10,400
20,625,288
20,345,466

25,985
58,002
75,545,046
74,891,632

11,710
28,669
29,908,929
29,613,051

5,510
14,283
19,098,500
18,817,003

4,302
11,092
19,272,984
19,123,541

3,622
8,552
26,917,189
26,668,276

6,047
11,556
16,759,168
16,525,116

20,655
39,576
41,478,834
41,198,819

3,066
16,434
260,322
20,374,838
15,939,769
410,569
1,037,221
93,856
56,011
307,687
299,299
240,541
28,268
771,055
-25,100

19,201
122,784
511,428
72,356,910
49,757,347
2,867,605
5,471,954
369,370
141,697
1,675,320
1,858,409
793,573
68,297
2,818,879
*482
366,000

8,481
13,590
273,806
28,466,376
18,780,288
1,055,801
2,684,493
119,077
50,264
577,218
693,200
289,101
47,797
910,839
-207,875

7,593
9,363
264,542
18,108,817
11,961,654
648,279
2,053,892
77,021
63,404
468,141
441,229
139,663
22,632
495,999
-133,586

2,993
34,178
112,272
18,496,022
12,412,436
544,442
1,787,739
63,305
27,625
376,954
432,294
226,385
28,420
471,458
-296,980

12,552
19,763
216,598
26,042,395
20,235,796
487,548
1,490,934
70,185
53,432
348,595
505,970
217,993
48,655
631,928
-160,341

3,100
62,850
168,101
15,906,372
10,998,585
549,578
1,396,110
74,623
49,374
400,313
382,515
130,657
40,527
350,617
-181,714

11,230
22,379
246,406
38,923,112
24,186,838
1,699,430
4,449,082
160,956
132,332
970,736
1,019,809
368,108
66,402
1,019,760
24
551,119

64,431
264,490
1,277
835,263
250,450

475,351
1,347,753
6,839
4,338,036
3,188,136

162,237
650,584
16,184
2,221,419
1,442,552

79,286
293,123
1,795
1,229,114
989,683

98,834
356,624
1,037
1,371,488
776,962

81,521
382,507
10,989
1,316,003
874,794

48,091
221,036
7,826
1,074,805
852,796

206,308
558,221
3,379
3,530,607
2,555,722

247,383
660,252
412,869

3,168,934
4,461,037
1,292,102

1,434,071
1,931,318
497,247

982,090
1,508,892
526,802

773,969
1,104,799
330,830

862,242
1,381,727
519,485

849,696
1,027,236
177,540

2,544,491
3,108,321
563,830

141,206
18,767
74,219
11,495
19,597
16,810
319
7,950
11,436
3,486

293,758
21,641
149,339
4,218
-6,074
124,402
232
33,084
36,119
3,036

77,801
20,311
72,467
4,968
-2,257
-17,760
71
21,970
22,812
842

202,040
75,743
48,048
5,840
817
71,581
12
15,078
15,291
213

128,774
32,913
34,686
9,637
1,454
50,072
12
25,439
25,977
*538

207,151
6,618
60,654
12,830
-2,432
129,327
153
9,445
9,859
414

100,024
1,363
17,332
264
-618
81,670
14
6,528
6,584
56

146,258
7,334
59,963
7,159
-2,795
74,528
70
8,246
9,889
1,643

*1,332
*1,332
-397,871
781,207
383,335

8,686
9,006
320
3,504,462
4,744,887
1,240,425

6,426
7,027
*601
1,540,268
2,021,181
480,912

*3,219
*3,687
468
1,202,428
1,688,773
486,345

-4,854
322
5,176
923,328
1,210,302
286,974

23,132
23,132
-1,101,970
1,581,240
479,271

283
283
(³)
956,531
1,131,991
175,460

*804
*838
34
2,699,800
3,255,335
555,535

Footnotes at end of table.

75

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Wholesale and retail trade
Wholesale trade

Retail trade

Merchant wholesalers
Wholesale
Item

Total

(33)

76

Number of returns..............................................
542,996
Number of shareholders................................
992,725
Total receipts ²...................................................1,614,472,031
Business receipts.......................................... 1,595,706,715
Interest on Government obligations:
105,083
State and local ².........................................
965,579
Net gain, noncapital assets...........................
Other receipts................................................
17,694,653
Total deductions................................................ 1,580,901,393
Cost of goods sold......................................... 1,258,490,540
Compensation of officers...............................
28,810,362
Salaries and wages....................................... 111,082,946
Repairs..........................................................
5,861,733
Bad debts......................................................
2,560,105
Rent paid on business property..................... 27,292,020
Taxes paid.....................................................
20,388,406
8,845,243
Interest paid...................................................
1,407,650
Amortization...................................................
Depreciation..................................................
15,049,846
Depletion.......................................................
28,400
Advertising..................................................... 15,285,417
Pension, profit-sharing, stock bonus,
2,854,981
and annuity plans......................................
7,677,900
Employee benefit programs...........................
170,482
Net loss, noncapital assets............................
Other deductions ..........................................
75,095,362
Total receipts less total deductions ².................
33,570,638
Net income (less deficit) from a trade or
business ²......................................................
33,465,555
Net income..................................................... 45,253,238
Deficit............................................................. 11,787,683
Portfolio income (less deficit) distributed to
4,405,552
shareholders..................................................
Dividend income............................................
199,990
Interest income..............................................
1,711,665
144,292
Royalty income..............................................
-203,666
Net short-term capital gain (less loss)...........
2,550,389
Net long-term capital gain (less loss)............
2,882
Other portfolio income (net)...........................
514,486
Real estate rental net income (less deficit).......
570,652
Net income.....................................................
56,165
Deficit.............................................................
Net income (less deficit) from other rental
108,521
activity............................................................
170,692
Net income.....................................................
62,172
Deficit.............................................................
Total net income (less deficit)............................ 38,494,113
Net income..................................................... 49,747,118
Deficit............................................................. 11,253,005
Footnotes at end of table.

76

Total

electronic

Total

Motor

Furniture

vehicle

and home

Durable

Nondurable

markets and

dealers

furnishings

goods

goods

agents

and parts

stores

and brokers
(37)

(40)

(34)

(35)

(36)

(38)

dealers
(39)

181,189
353,792
683,593,568
678,218,627

111,078
212,723
332,645,892
329,837,301

69,709
140,666
350,931,979
348,365,628

*403
*403
*15,698
*15,698

360,961
637,649
930,408,978
917,024,554

52,751
90,753
462,049,878
453,856,281

22,828
37,652
33,358,818
33,063,845

71,915
494,194
4,808,832
665,016,709
534,324,744
14,081,752
44,576,308
2,265,930
1,569,913
8,722,875
8,477,080
3,739,417
540,435
6,207,765
24,374
3,713,689

48,302
408,883
2,351,406
322,774,227
250,042,010
8,053,024
25,565,073
1,155,456
947,056
5,056,525
3,800,053
2,157,578
199,615
3,634,220
11,332
1,928,901

23,613
85,311
2,457,426
342,225,767
284,282,734
6,022,932
19,006,889
1,110,475
622,857
3,666,350
4,676,132
1,581,839
340,821
2,573,289
*13,042
1,784,788

---*16,715
-*5,796
*4,347
---*895
--256
---

33,168
471,385
12,879,872
915,411,828
723,845,112
14,696,673
66,482,773
3,595,487
988,409
18,564,450
11,903,609
5,099,926
860,976
8,837,623
*4,026
11,568,408

5,308
224,451
7,963,838
457,014,768
394,947,613
4,330,723
23,629,011
937,098
252,567
4,506,841
3,792,901
2,087,675
182,247
2,603,829
7
5,052,867

2,169
6,912
285,891
32,481,074
20,129,431
906,881
3,885,498
237,237
74,226
1,514,374
749,258
259,545
32,541
374,998
-1,248,251

1,679,275
3,356,643
40,929
31,695,580
18,576,860

958,644
1,986,498
27,878
17,250,366
9,871,664

720,631
1,370,145
13,051
14,439,794
8,706,212

---5,421
-1,017

1,175,668
4,317,625
129,553
43,341,508
14,997,150

287,431
1,863,006
37,794
12,503,157
5,035,111

60,260
222,433
862
2,785,279
877,744

18,504,944
22,786,723
4,281,779

9,823,363
12,455,064
2,631,701

8,682,599
10,331,660
1,649,061

-1,017
-1,017

14,963,982
22,461,604
7,497,622

5,029,803
6,962,611
1,932,808

875,575
1,394,320
518,745

2,754,410
126,462
835,020
102,932
-202,256
1,890,726
1,526
227,187
245,617
18,429

1,751,310
51,350
402,222
17,130
-17,419
1,297,019
1,007
126,482
138,830
12,348

1,003,100
75,112
432,797
85,803
-184,837
593,707
518
100,705
106,786
6,082

-----------

1,650,532
73,526
876,037
41,359
-1,410
659,664
1,356
287,299
325,035
37,736

774,985
9,855
375,430
*2,533
-1,912
388,425
655
79,769
86,439
6,670

107,213
4,902
46,366
195
9,745
45,740
*265
26,839
28,426
*1,587

50,059
85,175
35,116
21,536,601
25,664,278
4,127,677

37,924
71,854
33,930
11,739,079
14,108,611
2,369,531

12,135
13,321
1,186
9,798,538
11,555,668
1,757,129

----1,017
-1,017

58,462
85,518
27,056
16,960,275
24,077,321
7,117,046

-9,120
14,814
23,935
5,875,436
7,658,674
1,783,238

*16,843
*16,843
-1,026,470
1,515,134
488,664

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Wholesale and retail trade--continued
Retail trade--continued
Building
Item

Number of returns..............................................
Number of shareholders................................
Total receipts ²...................................................
Business receipts..........................................
Interest on Government obligations:
State and local ².........................................
Net gain, noncapital assets...........................
Other receipts................................................
Total deductions................................................
Cost of goods sold.........................................
Compensation of officers...............................
Salaries and wages.......................................
Repairs..........................................................
Bad debts......................................................
Rent paid on business property.....................
Taxes paid.....................................................
Interest paid...................................................
Amortization...................................................
Depreciation..................................................
Depletion.......................................................
Advertising.....................................................
Pension, profit-sharing, stock bonus,
and annuity plans......................................
Employee benefit programs...........................
Net loss, noncapital assets............................
Other deductions ..........................................
Total receipts less total deductions ².................
Net income (less deficit) from a trade or
business ²......................................................
Net income.....................................................
Deficit.............................................................
Portfolio income (less deficit) distributed to
shareholders..................................................
Dividend income............................................
Interest income..............................................
Royalty income..............................................
Net short-term capital gain (less loss)...........
Net long-term capital gain (less loss)............
Other portfolio income (net)...........................
Real estate rental net income (less deficit).......
Net income.....................................................
Deficit.............................................................
Net income (less deficit) from other rental
activity............................................................
Net income.....................................................
Deficit.............................................................
Total net income (less deficit)............................
Net income.....................................................
Deficit.............................................................

Sporting

Electronics

material

Food

Health and

and

and garden

and

personal

Gasoline

appliance

equipment

beverage

care

stations

stores

and supplies

stores

stores

(41)

dealers
(42)

(43)

(44)

15,776
25,599
29,150,737
28,843,911

24,580
43,702
56,431,256
55,976,654

54,521
112,364
102,672,297
101,347,910

856
5,553
300,418
28,435,908
21,382,168
770,893
2,548,126
60,536
43,410
481,554
378,149
119,718
22,351
314,993
-433,918

3,452
36,127
415,023
54,445,838
39,612,537
1,319,823
5,672,821
303,962
124,565
1,163,207
987,205
336,600
22,474
786,291
2,338
527,895

53,892
149,109
2,138
1,674,952
714,830

Clothing

goods,

General

and

hobby,

merchandise
stores

clothing

book, and

accessories

music

(45)

stores
(46)

stores
(47)

(48)

23,100
35,488
35,292,425
35,176,884

23,124
44,762
84,411,668
83,294,426

29,605
52,236
23,761,155
23,530,697

20,636
33,069
17,592,127
17,348,022

7,071
12,323
10,239,563
10,102,647

5,631
32,786
1,285,971
101,096,411
75,508,250
1,369,364
9,038,671
778,277
80,850
2,565,223
1,910,245
566,119
146,288
1,373,721
-907,173

1,928
2,864
110,749
34,103,240
24,698,878
1,328,353
3,072,108
102,680
31,366
956,899
481,820
134,462
28,440
252,417
-383,057

2,747
49,228
1,065,267
84,470,013
71,240,490
535,674
4,123,804
458,684
28,728
1,492,493
1,160,716
506,865
269,390
1,323,615
-144,187

4,918
3,972
221,568
23,079,103
13,146,262
1,011,465
3,113,119
124,664
25,058
1,601,913
516,927
207,131
31,654
252,554
-633,381

174
44,794
199,137
17,124,018
11,201,664
387,760
1,802,188
88,918
16,767
1,006,610
331,685
167,212
13,675
212,637
-401,830

91
325
136,500
10,092,712
6,778,904
187,171
1,178,222
56,507
53,330
489,120
225,624
60,980
7,227
118,408
-134,825

133,368
359,589
1,070
3,092,094
1,985,418

194,458
727,999
16,742
5,913,032
1,575,887

100,856
108,271
*45,196
2,378,438
1,189,185

28,294
141,422
9,094
3,006,558
-58,345

59,053
132,700
4,347
2,218,877
682,052

26,230
86,632
225
1,379,986
468,110

15,415
55,304
*4,167
727,509
146,851

713,974
1,048,995
335,021

1,981,965
2,353,243
371,277

1,570,255
2,439,603
869,348

1,187,257
1,578,906
391,650

-61,092
768,279
829,371

677,134
1,004,355
327,222

467,936
809,229
341,293

146,760
385,444
238,684

-62,496
1,605
23,188
822
*-3,170
-84,941
-20,358
22,000
*1,642

181,616
10,682
94,575
509
-1,993
77,762
82
16,615
18,893
*2,278

281,553
18,186
102,034
975
7,355
152,910
93
61,571
68,130
*6,559

8,351
7,035
18,987
19
-12,945
-4,768
21
9,207
*9,323
115

83,321
6,526
48,646
683
-1,599
28,847
218
48,331
52,355
4,024

20,143
1,620
19,127
*6,690
-10
-7,284
-2,502
2,592
90

40,141
1,618
28,322
9,865
*-1,108
1,444
-*-1,557
319
*1,876

18,675
1,709
12,281
43
2,587
2,054
1
2,060
4,976
*2,916

*9,714
*9,714
-681,549
1,068,344
386,794

*-1,430
*544
*1,974
2,178,766
2,530,341
351,575

8,293
9,350
1,056
1,921,673
2,739,287
817,614

189
189
-1,205,004
1,595,207
390,203

23,293
23,342
50
93,854
828,129
734,276

*1,970
*1,970
-701,748
1,026,620
324,872

*2,273
*2,273
-508,793
838,263
329,470

137
137
-167,632
402,924
235,293

Footnotes at end of table.

77

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Wholesale and retail trade--continued

Transportation and warehousing

Retail trade--continued

Wholesale
Item

Miscellaneous

Nonstore

and retail

store

retailers

trade not

retailers

78

Number of returns..............................................
Number of shareholders................................
Total receipts ²...................................................
Business receipts..........................................
Interest on Government obligations:
State and local ².........................................
Net gain, noncapital assets...........................
Other receipts................................................
Total deductions................................................
Cost of goods sold.........................................
Compensation of officers...............................
Salaries and wages.......................................
Repairs..........................................................
Bad debts......................................................
Rent paid on business property.....................
Taxes paid.....................................................
Interest paid...................................................
Amortization...................................................
Depreciation..................................................
Depletion.......................................................
Advertising.....................................................
Pension, profit-sharing, stock bonus,
and annuity plans......................................
Employee benefit programs...........................
Net loss, noncapital assets............................
Other deductions ..........................................
Total receipts less total deductions ².................
Net income (less deficit) from a trade or
business ²......................................................
Net income.....................................................
Deficit.............................................................
Portfolio income (less deficit) distributed to
shareholders..................................................
Dividend income............................................
Interest income..............................................
Royalty income..............................................
Net short-term capital gain (less loss)...........
Net long-term capital gain (less loss)............
Other portfolio income (net)...........................
Real estate rental net income (less deficit).......
Net income.....................................................
Deficit.............................................................
Net income (less deficit) from other rental
activity............................................................
Net income.....................................................
Deficit.............................................................
Total net income (less deficit)............................
Net income.....................................................
Deficit.............................................................
Footnotes at end of table.

78

Air, rail
Total

Transit

and water

Truck

and ground

Pipeline

transportation

transportation

passenger

transportation

allocable

transportation

(49)

(50)

(51)

(52)

(53)

(54)

(55)

(56)

58,502
102,931
41,781,756
41,377,846

28,467
46,769
33,667,296
33,105,430

*845
*1,284
*469,485
*463,535

98,595
172,170
107,714,703
106,502,393

7,821
12,628
9,632,845
9,446,580

50,700
85,006
60,505,312
59,871,811

14,537
21,068
7,648,416
7,581,869

*207
*428
*593,484
*535,233

3,177
16,139
384,594
40,569,419
25,782,164
1,497,411
4,546,847
273,290
56,873
2,075,573
828,896
367,099
54,465
551,114
*1,681
568,506

2,716
48,233
510,917
32,499,324
19,416,752
1,051,155
3,872,359
173,637
200,670
710,644
540,183
286,520
50,222
673,045
-1,132,518

-(³)
*5,950
*472,857
*320,685
*31,936
*23,864
*316
*1,784
*4,695
*7,717
*5,900
*6,239
*4,459
-*3,320

6,093
546,712
659,505
106,197,424
39,651,846
2,772,512
16,112,796
2,512,663
238,629
7,902,942
3,412,831
1,534,365
105,766
6,212,143
661
264,130

1,037
133,827
51,402
10,050,125
3,541,984
175,930
1,013,891
307,438
19,115
832,354
193,968
283,839
10,378
1,121,971
-47,577

1,555
328,448
303,498
59,619,851
16,743,500
1,473,729
10,464,310
1,730,123
130,093
5,120,515
2,284,247
816,223
20,077
3,733,241
661
113,737

19
17,690
48,836
7,359,129
2,842,723
248,890
1,163,500
155,257
5,369
442,297
256,638
133,888
27,028
410,205
-42,702

-339
*57,912
*477,580
*101,095
*12,140
*112,316
*8,869
*2,447
*24,054
*14,362
*12,710
*5,294
*22,519
-*1,288

89,021
218,636
7,055
3,650,787
1,212,337

127,391
252,523
*864
4,010,841
1,167,972

38
*3,632
-*58,273
*-3,372

340,951
1,645,978
60,746
23,428,465
1,517,279

46,280
147,520
33,151
2,274,729
-417,280

149,440
1,022,631
24,151
15,793,173
885,461

75,526
109,750
*1,493
1,443,865
289,287

*3,240
10,754
-*146,493
*115,904

1,209,160
1,902,742
693,583

1,165,257
1,813,877
648,620

*-3,372
*4,910
*8,282

1,511,186
4,233,470
2,722,283

-418,316
715,098
1,133,414

883,906
1,807,390
923,484

289,267
393,097
103,830

*115,904
*120,906
*5,002

93,030
3,935
57,539
*13,164
-1,436
19,814
14
21,683
22,573
*890

104,000
5,854
49,542
5,861
3,074
39,661
8
-78
9,009
*9,088

610
2
608
--------

382,623
16,900
191,187
181
-6,312
183,919
-3,252
131,294
134,202
2,909

55,303
2,270
50,844
151
-2,639
4,663
13
5,393
5,869
476

96,914
2,828
68,551
19
-3,025
28,539
1
7,692
8,166
474

13,121
5,279
18,685
-*16
-7,571
*-3,288
613
613
--

*6,080
21
*6,041
--18
-2
2
--

*3,325
*3,325
-1,327,197
1,978,541
651,344

*2,975
*3,016
41
1,272,153
1,895,857
623,703

---*-2,762
*5,519
*8,282

62,893
107,115
44,222
2,087,996
4,682,311
2,594,314

6,303
20,900
14,598
-351,318
770,489
1,121,807

15,922
44,310
*28,388
1,004,434
1,894,628
890,194

-529
(³)
529
302,473
407,519
105,046

5
5
-*121,990
*124,245
2,254

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Information

Transportation and warehousing-continued

Motion
Other
Item

Number of returns..............................................
Number of shareholders................................
Total receipts ²...................................................
Business receipts..........................................
Interest on Government obligations:
State and local ².........................................
Net gain, noncapital assets...........................
Other receipts................................................
Total deductions................................................
Cost of goods sold.........................................
Compensation of officers...............................
Salaries and wages.......................................
Repairs..........................................................
Bad debts......................................................
Rent paid on business property.....................
Taxes paid.....................................................
Interest paid...................................................
Amortization...................................................
Depreciation..................................................
Depletion.......................................................
Advertising.....................................................
Pension, profit-sharing, stock bonus,
and annuity plans......................................
Employee benefit programs...........................
Net loss, noncapital assets............................
Other deductions ..........................................
Total receipts less total deductions ².................
Net income (less deficit) from a trade or
business ²......................................................
Net income.....................................................
Deficit.............................................................
Portfolio income (less deficit) distributed to
shareholders..................................................
Dividend income............................................
Interest income..............................................
Royalty income..............................................
Net short-term capital gain (less loss)...........
Net long-term capital gain (less loss)............
Other portfolio income (net)...........................
Real estate rental net income (less deficit).......
Net income.....................................................
Deficit.............................................................
Net income (less deficit) from other rental
activity............................................................
Net income.....................................................
Deficit.............................................................
Total net income (less deficit)............................
Net income.....................................................
Deficit.............................................................

Total

Publishing

picture

Broadcasting

Internet

industries

and sound

(except

publishing

Telecom-

Internet)

and

munications

transportation

Warehousing

and support

and

(except

recording

activities

storage

Internet)

industries

(57)

(58)

(59)

(60)

(61)

(62)

21,456
38,151
22,439,552
22,327,471

3,874
14,888
6,895,093
6,739,429

66,829
119,746
50,481,304
51,637,882

19,489
37,890
22,347,535
21,637,681

20,808
30,602
11,452,205
11,149,728

4,000
10,587
2,147,805
4,872,102

1,275
3,149
225,049
200,203

9,912
20,384
9,146,198
8,638,756

1,085
43,009
67,988
22,107,762
13,229,267
745,377
2,479,128
204,814
77,069
757,864
447,714
197,724
37,062
642,650
-52,384

2,396
23,399
129,869
6,582,977
3,193,277
116,447
879,650
106,163
4,536
725,857
215,901
89,981
5,928
281,557
-6,442

50,637
89,902
-1,297,117
50,625,309
17,931,542
3,596,957
10,058,356
348,553
263,335
1,808,188
1,386,483
698,507
553,018
1,852,739
(³)
837,907

20,692
9,007
680,155
20,600,220
7,530,982
1,053,907
4,515,953
126,900
97,086
719,281
579,138
234,771
177,075
590,768
-306,430

9,873
5,199
287,404
11,078,285
4,078,565
1,408,015
1,215,280
70,421
25,491
471,206
286,226
140,353
161,123
505,753
-185,563

18,166
43,995
-2,786,458
4,748,108
804,639
324,561
1,378,685
54,677
32,013
101,080
190,584
176,324
164,713
248,445
-106,555

40
318
*24,488
162,636
*72,599
1,127
*23,124
*2,893
*3,709
*2,521
5,787
*619
*174
*5,629
-*3,583

1,022
28,602
477,819
9,042,307
3,872,298
430,341
1,765,788
62,063
102,765
274,478
169,163
96,445
33,970
374,111
(³)
130,385

40,495
235,304
*181
2,960,727
331,791

25,971
120,020
1,770
809,478
312,116

344,194
688,836
14,600
10,242,095
-144,005

164,055
418,647
6,216
4,079,011
1,747,315

69,025
77,378
772
2,383,114
373,920

13,369
66,102
*3,337
1,083,024
-2,600,303

*216
*1,145
20
39,489
62,413

77,111
54,679
3,290
1,595,420
103,891

330,706
767,084
436,378

309,720
429,896
120,175

-194,642
5,207,658
5,402,301

1,726,623
2,139,360
412,737

364,046
1,246,605
882,558

-2,618,469
626,495
3,244,964

62,373
*71,212
*8,839

102,869
649,741
546,872

99,895
4,470
20,634
8
151
74,631
1
47,293
49,252
*1,959

111,311
2,031
26,432
3
-815
83,639
20
70,301
70,301
--

1,584,128
58,018
343,106
21,442
-6,741
1,158,699
9,604
62,729
65,428
2,699

176,973
19,758
94,930
6,792
-17,363
72,690
165
24,840
26,084
*1,244

267,248
6,761
62,970
*2,792
-13,613
208,339
(³)
3,674
3,776
102

315,050
7,440
98,044
7,862
-11,575
203,707
9,571
7,970
8,895
*924

*44,630
93
*3,020
-276
41,242
-*-131
-*131

796,461
22,768
74,266
276
36,448
662,834
-132
1,066
1,199
133

39,560
40,267
707
517,453
907,676
390,223

*1,632
*1,632
-492,964
577,754
84,790

3,537
7,025
3,489
1,455,751
6,490,828
5,035,076

-3,270
188
3,458
1,925,165
2,286,648
361,483

*578
*592
14
635,546
1,436,472
800,926

4,286
4,303
17
-2,291,162
869,546
3,160,708

---106,873
*112,688
*5,815

1,655
1,655
-902,051
1,293,570
391,519

broadcasting
(63)

(64)

Footnotes at end of table.

79

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Information--continued

Item

Finance and insurance

Internet

Securities,

service

commodity

providers,

Other

web search

information

portals, and

services

Depository
Total

data processing

80

Number of returns..............................................
Number of shareholders................................
Total receipts ²...................................................
Business receipts..........................................
Interest on Government obligations:
State and local ².........................................
Net gain, noncapital assets...........................
Other receipts................................................
Total deductions................................................
Cost of goods sold.........................................
Compensation of officers...............................
Salaries and wages.......................................
Repairs..........................................................
Bad debts.......................................................
Rent paid on business property.....................
Taxes paid.....................................................
Interest paid...................................................
Amortization...................................................
Depreciation..................................................
Depletion.......................................................
Advertising.....................................................
Pension, profit-sharing, stock bonus,
and annuity plans......................................
Employee benefit programs...........................
Net loss, noncapital assets............................
Other deductions ..........................................
Total receipts less total deductions ².................
Net income (less deficit) from a trade or
business ²......................................................
Net income.....................................................
Deficit.............................................................
Portfolio income (less deficit) distributed to
shareholders..................................................
Dividend income............................................
Interest income..............................................
Royalty income..............................................
Net short-term capital gain (less loss)...........
Net long-term capital gain (less loss)............
Other portfolio income (net)...........................
Real estate rental net income (less deficit)........
Net income.....................................................
Deficit.............................................................
Net income (less deficit) from other rental
activity............................................................
Net income.....................................................
Deficit.............................................................
Total net income (less deficit)............................
Net income.....................................................
Deficit.............................................................
Footnotes at end of table.

80

Other

Non-

contracts,

Insurance

financial

credit

depository

and other

carriers and

vehicles

inter-

credit inter-

financial

related

and

mediation

mediation

investments and

activities

investment
companies
(72)

services
(65)

(66)

(67)

(68)

(69)

related activities
(70)

(71)

7,630
10,902
3,332,139
3,311,721

3,715
6,232
1,830,372
1,827,690

122,857
224,305
82,205,097
73,620,171

1,228
11,591
5,154,870
1,917,832

30,095
49,096
23,305,171
20,241,544

28,739
61,869
20,330,201
18,624,921

59,188
89,573
32,758,164
32,357,051

3,606
12,176
656,691
478,822

469
2,756
17,194
3,229,115
1,045,802
180,174
724,861
16,960
1,633
175,754
97,615
21,933
13,118
88,080
-32,876

375
25
2,282
1,764,638
526,658
198,832
434,666
14,639
638
63,867
57,969
28,062
2,845
39,953
-72,515

162,371
1,471,320
6,951,235
70,915,349
7,670,856
9,082,355
23,668,552
424,910
1,002,119
2,970,182
2,158,777
3,509,052
295,516
1,315,214
6
1,019,528

89,847
138,625
3,008,565
3,850,969
2,494
284,911
654,755
49,252
153,038
54,941
105,270
1,534,817
33,975
127,657
6
47,385

10,279
1,268,814
1,784,534
20,062,514
1,759,460
1,428,501
7,422,503
113,511
689,261
860,537
619,358
1,117,691
60,974
450,862
-471,083

38,577
31,784
1,634,918
18,380,101
1,183,839
3,254,082
5,994,273
66,364
31,641
834,829
488,112
575,794
55,265
364,346
-134,811

10,503
30,718
359,892
27,977,729
4,718,941
3,903,813
9,496,234
194,287
126,481
1,193,957
919,361
239,417
140,936
362,005
-355,299

13,164
*1,379
163,326
644,036
6,122
211,047
100,787
1,495
*1,699
25,917
26,675
41,333
4,367
10,344
-10,951

11,513
42,962
678
775,156
103,025

8,905
27,923
287
286,880
65,734

806,455
1,043,422
60,165
15,888,240
11,289,748

31,419
95,055
7,029
668,965
1,303,901

87,139
221,812
9,383
4,750,438
3,242,657

221,270
246,603
37,738
4,891,132
1,950,100

430,003
470,361
6,015
5,420,620
4,780,435

*36,624
9,591
-157,084
12,655

102,556
264,171
161,615

65,359
210,075
144,715

11,127,377
13,918,741
2,791,364

1,214,054
1,233,747
19,694

3,232,378
3,663,794
431,416

1,911,523
3,776,418
1,864,895

4,769,932
5,033,652
263,721

-509
211,129
211,638

-6,444
*737
4,196
(³)
*-171
*-11,207
-25,116
25,262
146

-9,789
462
5,679
3,720
-743
-18,907
-*193
*212
19

2,817,818
367,604
939,819
18,591
386,699
964,266
140,839
74,652
102,784
28,133

45,993
6,563
24,517
135
619
13,739
421
1,270
5,855
4,585

290,235
2,659
225,003
6
11,169
51,167
231
17,122
24,010
6,887

1,936,771
332,786
440,795
18,212
403,709
619,905
121,364
51,190
61,687
10,498

400,666
17,138
148,640
--4,838
235,288
*4,438
6,507
6,957
450

144,153
8,458
100,865
*239
-23,960
44,167
14,384
-1,437
4,276
5,712

---121,228
291,279
170,051

288
288
-56,052
200,625
144,574

7,190
28,454
21,265
14,027,036
16,195,060
2,168,023

366
416
50
1,261,682
1,280,421
18,739

291
341
*50
3,540,026
3,915,801
375,774

1,561
22,475
20,914
3,901,045
5,296,849
1,395,804

*1,346
*1,398
52
5,178,451
5,393,889
215,439

*3,625
*3,824
199
145,833
308,100
162,268

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Real estate and rental and leasing

Item

Number of returns..........................................................
Number of shareholders............................................
Total receipts ²...............................................................
Business receipts.......................................................
Interest on Government obligations:
State and local ².....................................................
Net gain, noncapital assets........................................
Other receipts............................................................
Total deductions............................................................
Cost of goods sold.....................................................
Compensation of officers...........................................
Salaries and wages...................................................
Repairs......................................................................
Bad debts...................................................................
Rent paid on business property.................................
Taxes paid.................................................................
Interest paid...............................................................
Amortization...............................................................
Depreciation...............................................................
Depletion....................................................................
Advertising.................................................................
Pension, profit-sharing, stock bonus,
and annuity plans...................................................
Employee benefit programs.......................................
Net loss, noncapital assets........................................
Other deductions ......................................................
Total receipts less total deductions ².............................
Net income (less deficit) from a trade or
business ²..................................................................
Net income.................................................................
Deficit.........................................................................
Portfolio income (less deficit) distributed to
shareholders..............................................................
Dividend income........................................................
Interest income..........................................................
Royalty income..........................................................
Net short-term capital gain (less loss).......................
Net long-term capital gain (less loss)........................
Other portfolio income (net).......................................
Real estate rental net income (less deficit)....................
Net income.................................................................
Deficit.........................................................................
Net income (less deficit) from other rental
activity........................................................................
Net income.................................................................
Deficit.........................................................................
Total net income (less deficit)........................................
Net income.................................................................
Deficit.........................................................................

Total

Real estate

Lessors of

Professional,

Rental

nonfinancial

scientific,

Management
of

and

intangible

and

companies

leasing

assets

technical

(holding

services

(except copy-

services

companies)

righted works)
(76)

(73)

(74)

(75)

(77)

(78)

360,133
771,055
79,165,870
75,972,568

326,721
711,998
57,320,348
55,100,770

32,654
56,905
21,530,433
20,659,382

758
2,152
315,089
212,416

480,120
705,062
264,049,164
258,469,198

21,779
74,545
15,203,141
5,513,083

51,279
816,609
2,325,413
74,967,209
16,701,223
5,574,564
19,367,873
1,045,055
324,094
5,039,836
2,185,385
2,030,121
147,964
5,383,765
*168
1,665,003

40,422
317,793
1,861,362
53,174,715
9,892,993
4,872,771
16,117,901
590,364
219,170
3,416,653
1,544,313
1,272,499
110,321
1,284,016
*168
1,374,431

10,052
498,792
362,207
21,687,546
6,807,355
697,939
3,236,107
453,917
103,935
1,622,591
637,886
747,349
20,147
4,098,058
-285,190

*805
24
101,845
104,948
875
3,853
*13,865
774
989
*593
3,185
10,274
17,495
1,692
-*5,383

35,552
158,638
5,385,776
241,892,846
81,368,270
28,392,667
50,759,611
1,247,729
567,529
9,424,017
7,499,721
1,475,769
382,267
3,531,623
*153
2,669,248

487,252
297,532
8,905,275
10,643,697
22,140
846,497
1,646,842
153,859
528,720
138,908
363,040
3,631,556
105,207
395,078
548
100,451

693,701
743,683
73,638
13,991,134
4,198,660

611,279
562,437
48,304
11,257,095
4,145,632

81,959
180,879
25,335
2,688,898
-157,113

462
368
-45,141
210,141

2,976,353
3,136,929
59,999
48,400,960
22,156,318

113,403
245,455
22,188
2,329,805
4,559,445

4,147,382
8,683,995
4,536,614

4,105,210
7,320,947
3,215,737

-167,165
1,146,037
1,313,202

209,336
217,011
*7,675

22,120,766
27,895,003
5,774,237

4,072,193
5,324,748
1,252,555

2,660,123
199,453
1,369,101
20,621
-9,999
1,071,383
9,565
4,982,776
7,067,071
2,084,294

2,341,351
194,638
1,244,030
14,168
-12,064
891,028
9,550
4,954,208
7,012,016
2,057,808

292,586
4,784
112,685
*113
2,068
172,921
*15
28,554
55,040
26,486

26,186
31
12,386
6,340
-3
7,433
-14
14
--

2,949,980
87,063
669,562
14,327
44,088
2,126,876
8,063
99,534
156,081
56,547

2,403,331
353,779
755,675
38,718
-38,428
1,135,950
157,637
-2,037
103,698
105,735

20,546
604,172
583,626
11,810,827
17,855,271
6,044,445

-4,383
101,799
106,182
11,396,387
15,807,901
4,411,514

24,917
502,362
477,444
178,892
1,804,296
1,625,404

11
11
-235,547
243,075
*7,527

16,736
84,506
67,771
25,187,016
30,651,991
5,464,975

669
23,222
22,553
6,474,156
8,231,424
1,757,268

Footnotes at end of table.

81

S Corporation Returns, 2002

Table 1.--S Corporations: Total Receipts and Deductions, Portfolio Income, Rental Income, and
Total Net Income, by Major Industrial Group--Continued
[All figures and estimates based on samples--money amounts are in thousands of dollars]
Health care and social assistance

Administrative and support and waste
management and remediation services

Item

Total

(79)

82

Number of returns..............................................
156,956
Number of shareholders................................
245,479
Total receipts ²................................................... 129,479,166
Business receipts.......................................... 127,476,964
Interest on Government obligations:
18,295
State and local ².........................................
121,714
Net gain, noncapital assets...........................
Other receipts................................................
1,862,194
Total deductions................................................ 123,403,004
56,018,590
Cost of goods sold.........................................
Compensation of officers...............................
5,645,212
28,217,008
Salaries and wages.......................................
Repairs..........................................................
1,005,704
Bad debts......................................................
251,176
3,481,522
Rent paid on business property.....................
Taxes paid.....................................................
5,048,302
876,687
Interest paid...................................................
176,905
Amortization...................................................
Depreciation..................................................
2,693,593
Depletion.......................................................
*9,932
1,027,386
Advertising.....................................................
Pension, profit-sharing, stock bonus,
339,634
and annuity plans......................................
1,838,160
Employee benefit programs...........................
31,940
Net loss, noncapital assets............................
Other deductions ..........................................
16,741,252
Total receipts less total deductions ².................
6,076,162
Net income (less deficit) from a trade or
business ²......................................................
6,057,867
7,844,131
Net income.....................................................
1,786,264
Deficit.............................................................
Portfolio income (less deficit) distributed to
506,053
shareholders..................................................
Dividend income............................................
27,795

[Text truncated at 120,000 characters. The full text is on the page linked above.]

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Airs%3Afd146601b74bacbf. Public record. Not legal advice.