[JOINT COMMITTEE PRINT]

APPENDIX I TO JCX-82-99:

NIPA AND FEDERAL INCOME TAX

RECEIPTS DATA

Prepared by the Staff

of the

JOINT COMMITTEE ON TAXATION

November 10, 1999

JCX-83-99
1

 S corporate income is included in NIPA corporate income before taxes.

NIPA AND FEDERAL INCOME TAX RECEIPTS DATA

This appendix presents data from the recently revised National Income and Product

Accounts (”NIPA”) along with Federal income tax receipts data covering the period 1988

through 1999. These data are presented on a Federal fiscal year basis in order to coincide with

the Federal accounting period.

Table 1 presents the revised Gross Domestic Product (“GDP”) series along with recent

Federal income tax receipts data. Federal income tax receipts are broken down into the

individual income tax and corporate income tax components. For comparison, the year-to-year

percentage growth rates are also shown.

Table 2 presents a NIPA measure of corporate net income, “corporate income before

taxes.” This NIPA series measures aggregate net corporate income for the U.S.1 with various

adjustments including adjustments to account for underreported and misreported income. 

Corporate income before taxes employs tax measures of depreciation and inventory accounting. 

The income series presented in Table 2 is limited to domestic income. Again, year-to-year

percentage growth rates are presented below the aggregate figures.
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

] 

........................................ 5,016.7 5,406.6 5,738.4 5,927.9 6,221.7 6,561.2 6,948.8 7,322.7 7,700.2 8,182.8 8,636.3 9,110.7

........................................ N/A 7.8 6.1 3.3 5.0 5.5 5.9 5.4 5.2 6.3 5.5 5.5

l Income Tax Receipts 

........................................ 495.7 549.0 560.4 565.9 576.2 627.2 683.4 747.2 828.2 919.8 1017.3 1064.2

......................................... N/A 10.8 2.1 1.0 1.8 8.8 9.0 9.3 10.8 11.0 10.6 4.6

......................................... 9.9 10.2 9.8 9.5 9.3 9.6 9.8 10.2 10.8 11.2 11.8 11.7

eceipts 

........................................ 401.2 445.7 466.9 467.8 476.0 509.7 543.1 590.2 656.4 737.5 828.6 879.5

......................................... N/A 11.1 4.8 0.2 1.7 7.1 6.5 8.7 11.2 12.3 12.4 6.1

e taxes ............................ 80.9 81.2 83.3 82.7 82.6 81.3 79.5 79.0 79.3 80.2 81.5 82.6

......................................... 8.0 8.2 8.1 7.9 7.7 7.8 7.8 8.1 8.5 9.0 9.6 9.7

Receipts

........................................ 94.5 103.3 93.5 98.1 100.3 117.5 140.4 157.0 171.8 182.3 188.7 184.7

......................................... N/A 9.3 -9.5 4.9 2.2 17.2 19.5 11.8 9.4 6.1 3.5 -2.1

e taxes ............................ 19.1 18.8 16.7 17.3 17.4 18.7 20.5 21.0 20.7 19.8 18.5 17.4

......................................... 1.9 1.9 1.6 1.7 1.6 1.8 2.0 2.1 2.2 2.2 2.2 2.0

of Economc Analysis release. 

s Government: Fiscal Year 2000 and Monthly Treasury Statements.

[Totals in Billions of Dollars]

Fiscal Years 1988 - 1999

Table 1. Gross Domestic Product and Individual and Corporate Income Tax Receipts 
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

........................................ 94.5 103.3 93.5 98.1 100.3 117.5 140.4 157.0 171.8 182.3 188.7 184.7

........................................ N/A 9.3 -9.5 4.9 2.2 17.2 19.5 11.8 9.4 6.1 3.5 -2.1

........................................ 292.5 305.1 300.9 314.8 351.1 397.9 464.4 544.2 591.9 646.7 666.4 N/A

........................................ N/A 4.3 -1.4 4.6 11.5 13.3 16.7 17.2 8.8 9.2 3.0 N/A

s Government: Fiscal Year 2000 and Monthly Treasury Statements.

of Economic Analysis release. Income measure does not include either Federal Reserve Bank income or income

States.

Fiscal Years 1988 - 1999

[Totals in Billions of Dollars]

Table 2. Corporate Income Tax Receipts and Corporate Income Before Taxes (NIPA)