No. 629. INTERNAL REVENUE COLLECTIONS, BY SELECTED SOURCES: 1965 to 1972 [For years ending June 30. Includes collections outside United States. See Historical Statistics, Colonial Times to 1957, series Y 264-279, for selected items]

SOURCE OF REVENUE

AMOUNT (mil. dol.)

PERCENT DISTRIBUTION

1965 1968 1969 1970 1971 1972 1965 1968 1969 1970 1971

1972

All taxes...

Corporation income taxes-
Individual income and employ-
ment taxes 1

Not withheld and self employ-
ment..

Withheld and

17.9

29.0 28.2

26.2

27.7

old-age dis

114.4 153.6 187.9 195.7 191,6 209.9 100.0 100.0 100.0 100.0 100.0 100,0
26.1 29.9 38.3 35.0 30.3 34.9 22.8 19.5 20.4 17.9
70.8 106.3 130.5 141.1 140.7 152.6 61.8 69.2 69.4 72.1
22.5

15.8 16.6

73.4 72.7

15.6

14.6 15.4

ability insurance..

51.7

Estate and gift taxes..

2.7

3.1 3.5

58.5

3.7

3.8

2.0

1.9

1.9

2.0 2.6

14.3

Alcohol taxes 2.

4.6

4.7

4.8

Tobacco taxes 2

5.1

3.3

2.4

2.5

2.4

Manufacturers' excise taxes!

1.9

1.4

6.5

6.7

Gasoline..

3.5

3.4

2.7

3.4

3.5

Motor

3.7

vehicles,

1.7

1.8

1.9

chassis,

1.8

bodies, parts, etc..

All other excise taxes.

2.5

2.2

2.3

2.4

2.1

1.4 1.2

1.2

1.5 1.8

1 Includes taxes not shown separately.

* Includes taxes collected in Puerto Rico on manufactures coming into the United States.

Source: U.S. Internal Revenue Service, Annual Report of the Commissioner.

No. 630. FEDERAL INDIVIDUAL INCOME TAX RATES, BY TAXABLE INCOME BRACKET:

1944 TO 1973

[In percent. For selected income years. Actual combined normal tax and surtax rates rounded to nearest whole percent. The normal tax rates were 3 percent for 1944-53 before adjustment for reductions from tentative tax in 1946-50. The Internal Revenue Code of 1954 combined the normal tax and surtax rates into a single rate schedule]

1 Income after exclusions, deductions, and exemptions. For 1948-73, joint returns, in effect, double the tax on
one-half of their taxable income. For 1954-73, the same treatment is provided for a surviving spouse. For 1952-
73 heads of households compute their tax by use of a rate schedule which provides for about one-half the split in-
come benefits allowed married couples filing joint returns. There was a maximum effective rate: 1944-53 on net
income; 1954-63 on taxable income.
computed from rate schedule before application of percentage reductions.
2 Includes effect of percentage reductions of tentative tax, which is tax
percent, and 21⁄2 percent tax surcharge imposed for 1968, 1969, and 1970, respectively.
Includes effect of 7.5 percent, 10

Source: U.S. Congress. Adapted from data provided by the Staff of the Joint Committee on Internal Revenue
Taxation, June 30, 1973.

Individual Tax Liability and Rates-Income Tax Returns 395

No. 631. INDIVIDUAL INCOME TAX LIABILITY AND EFFECTIVE RATES, FOR SELECTED INCOME GROUPS: 1954 TO 1973

(Refers to income after exclusions but before deductions and exemptions. 1954-1963 figures assume deduction of 10 percent of adjusted gross income; 1964 figures assume larger of minimum standard deduction or 10 percent of adjusted gross income; 1970-1973 figures assume larger of low-income allowance, standard deduction, or 10 percent of adjusted gross income. Excludes self-employment tax. See Historical Statistics, Colonial Times to 1957, series Y 319-332, for similar data based on net income]

Represents zero.

60

2.0

420

325

275

178

98

8.4

6.5

5.5

3.6

2.0

1,372

1, 200

1, 122

1,000

905

13.7 12.0

11.2

1 Defined as total income from all sources subject to tax less exemptions and deductions allowed for certain expenses, losses, or other items specified by law. 2 Internal Revenue Code of 1954. Revenue Act of 1964. Tax Reform Act of 1969. Includes income tax surcharge. Revenue Act of 1971. Tax liability divided by stated income.

Source: U.S. Dept. of the Treasury, unpublished data.

No. 632. INCOME TAX RETURNS FILED, BY TYPE: 1960 to 1972

[In thousands. For years ending June 30. Includes Puerto Rico and Virgin Islands]

Source: U.S. Internal Revenue Service, Annual Report of the Commissioner.

No. 633. INDIVIDUAL INCOME TAX RETURNS WITH ADJUSTED GROSS INCOMESUMMARY: 1950 To 1971

[In millions of dollars, except as indicated. Includes Puerto Rico and Virgin Islands. Includes returns of resident aliens; based on a sample of returns as filed, unaudited except to insure proper execution. See Historical Statistics, Colonial Times to 1957, series Y 292-311, for related data]

Represents zero. ΝΑ Not available. Z Less than 500.

1 For definition, see footnote 1, table 631.

2 Exemptions: 1950-1969, joint return $1,200, single $600, each dependent $600; additional exemption for taxpayer, and his spouse on joint return, of $600 if blind and $600 if age 65 and over. For 1970, each exemption increased to $625; for 1971, to $675. Income tax after credits (including the investment credit for 1965-1969). For 1968 and 1969, includes tax surcharge. Joint returns counted twice in computing percent.

Salaries after sick pay exclusion. 6 Domestic and foreign. 7 After exclusions.

* For 1950, business profit or loss after net operating loss deduction. Farm included with business or profession. 10 Comprises all income subject to income tax not elsewhere listed, less adjustments.

Source: U.S. Internal Revenue Service, Statistics of Income, Individual Income Tax Returns, annual.

Individual Income Taxes

397

No. 634. INDIVIDUAL INCOME TAX RETURNS WITH ITEMIZED DEDUCTIONS, BY ADJUSTED GROSS INCOME CLASSES: 1970

[Money figures in millions of dollars. Includes returns of resident aliens. Based on a sample of returns as filed, unaudited except to insure proper execution]

Source: U.S. Internal Revenue Service, Statistics of Income, 1970, Individual Income Tax Returns.

No. 635. INDIVIDUAL INCOME TAX RETURNS, BY ADJUSTED GROSS INCOME CLASSES: 1960 To 1971

[In billions of dollars, except percent. Includes Puerto Rico and V.I. Based on sample of unaudited returns as filed]

X Not applicable. Z Less than $500,000. 1 For definition, see footnote 1, table 631.

Preliminary. 3 Includes tax surcharge.

Source: U.S. Internal Revenue Service, Statistics of Income, Individual Income Tax Returns, annual.

494-860 073-27

No. 636. INDIVIDUAL INCOME TAX RETURNS-SOURCES OF INCOME, BY ADJUSTED GROSS INCOME CLASSES: 1971

For definition, see footnote 1, table 631.

3 Dividends in adjusted gross income (formerly termed "Dividends after exclusions").

4 Business profit and loss without deduction for net operating loss.

Comprises all income subject to income tax not elsewhere listed, less adjustments.

Source: U.S. Internal Revenue Service, Statistics of Income, 1971, Individual Income Tax Returns.

No. 637. INDIVIDUAL INCOME TAX RETURNS OF TAXPAYERS AGE 65 AND OVER: 1970

Source: U.S. Internal Revenue Service, Statistics of Income, 1970, Individi al Income Tax Returns.