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Friday, July 28, 2006

IRS Spring 2006 Statistics of Income Bulletin reveals S corp. trends

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The IRS has issued the Spring 2006 issue of the Statistics of Income Bulletin.

The Bulletin includes historical data on income, deductions and tax reported on returns filed by individuals, corporations, s corporations, and unincorporated businesses, with selected data presented for estates. In addition, this issue presents the annual individual income tax return statistics by state for returns filed for Tax Year 2004. Statistics are also presented on tax collections, including excise taxes by type, and refunds for recent years.

Here's some highlights for the most recent data on S corporations:

  • A total of nearly 3.3 million S corporation returns were filed for Tax Year 2003, an increase of 5.9 percent from Tax Year 2002.

  • S corporations continue to be the single most popular corporate entity choice representing 61.9 percent of all corporate entities.

  • The number of shareholders for S corporations increased to nearly 5.8 million, up 2.9 percent from the previous year. Total net income (less deficit) reported by S corporations increased to $213.7 billion for Tax Year 2003 from $183.5 billion reported for Tax Year 2002.

  • Nearly two-thirds, 62.7 percent of all S corporations, reported positive total net income.

  • Total assets increased $169.9 billion to $2,186.6 billion for Tax Year 2003.

  • Less than one quarter of 1.0 percent of all S corporations reported federal tax liability, for a total tax liability of $380.9 million.

You can view the entire Bulletin here:

Spring 2006 issue of the Statistics of Income Bulletin

A wide range of tables, articles, and data that describe and measure elements of the U.S. tax system is available at the Tax Stats Web site.


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Delaware Intercorp, Inc.
113 Barksdale Professional center
Newark, DE 19711-3258

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