Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-27
PROSPERITY SHOWN
lin D. c. TAX RETURN
Corporations Set Record in
/; Income Levy Paid Fed
eraI Government.

seorporations of the District of Column
sbia and a big increase in individual
incomes Of persons over the country
GENERALLY rated as millionaires are
disclosed by the Bureau Of Internal
Revenue in complete statistics of tax
-ation for the fiscal year 1925, filed
sup to December 81 last.
81 Net incomes of corporations here
surpassed anything within at least
fhe past 10 years, with total OF $64,-
493,229, as compared with only SAL
.457.560 in 1924. which at that time
was a record.
:. 1t was disclosed that the richest
person in the District Of Columbia,
Whoever he was, raised himself from
sthe class reporting an income of be-
Rween S750,000 to Sl.000000 to the
iciass reporting an income Of between
.$l.0oo,00G and S1,500,000.
:, $780, 900. Glass Grows.
y Furthermore. the wealthiest class in
The District Of Columbia more than
doubled itself within a single year.
Fhose who reported to the Govern
.ment that their incomes were more
sthan 500, 900 increaSd from SO in 1924
to so in 1925.
= These so wealthiest in the National
Capital were led by the one person
with an income of more than a mil
lion dollars and included one between
$500, 900 and $4,000; three between
$400, 000 and 100000 five between
$500 goo and 100000 one between
$3.50. 900 and $500 ,000; nine between
500. 900 and S250,000; 16 between
$3.50, 900 and $500. 900, and Al between
100000 and Sl50,000.
Total taxes paid from the District
rose from ISL .262 in 1924. to SD.
S37.237, a gain of 81 ,3e5,975. This
was in line for the Nation as whole,
which showed an increase.
Corporation Taxes Advance.
Corporation taxes in the District of
Columbia rose sufficiently to overcome
a falling of in the individual income
tax. The corporations increased
their tax from S5.745 401 in 1924, to
3$S.119,191 in 1925. while the indi-
vidual income taxes dropped here from
$5,765,S61, in 1924 to S5,71S,O46 in
1925.
In contrast to the falling off of in
dividual income taxes in the District
the income taxes for the Nation as
whole increased by s30.2S9,793.
individuals fling incomes in the DIS
trict of Columbia fell off from 1855
In 1924 to 1928 in 1925.
From the country at large there was
a decrease of 43.4 per cent in the num-
Der of income tax returns filed Tor
1925. a decrease of 1896 per cent in
the total reported net income, but the
1926 revenue act produced $30,2S9,Ts3
increase in collections, making the net
tax $734 ,555, 1873.
: Average Income $5,249.
The average net income of those
.iling returns was S5.249, with an av-
3erage tax rate Of 3.35 per cent. This
10 an increase of $1,767.90 in the av.
ierage income as compared with 1924,
and compares with tax rate OF 2.74
per cent for that year.
:. The new law reduces materially the
number of persons required to file re-
turns. Three and six-tenths per cent
of the population filed returns for
1925, as compared with 6.56 the pre-
.ceding year. The aggregate net in
come of the ALI, 051 taxpayers who
-nade returns was S21 1894 SIG .403.
r An increase of 5,945 corporations
Seporting net income brought the num-
Der of this class of return to 252.334
and the total income to S9,5S3 $50 ,69I,
which yielded tax of $1,170, 1871 FOG.
For the preceding year, the income
::vas $3.50, $50, 292, and the tax $751;
.S49, $40. The number of corporations
ming returns was 430,072, as compared
with Alt .421.
!. No Net Income.
:. Corporations reporting no net in
come for 1928 numbered 177,T35 They
showed a gross income of S22, 499 ,062,.
s46e and a deficit of 81, 962 ,62S, 095. Cor
.poration income figures distributed by
A,,- Ill Ht. I1ak %ha-
engaged in financial activities, such as
banking, brokerage and insurance, filed
.the greatest number Of returns. 49,
:947, followed by those engaged in
trades, 100 ,5Ss.
- While the corporations in these
:classes reported net income of s1.525.-
E823,2 and S1,254, 045, 1896, respectively,
3hey were exceeded by the net income,
r$4 1888, 357, 349, Of 54,137 of the SS.674
! manufacturing corporations which
.made money that year and by the
Isl ,468. 692,774 earned by the 1882
: transportation and other public utili-
: ties concerns.
: OF the corporations engaged in agri-
culture and related industries, 1904
filed returns, only 1862 showing net
Income. The gross income was $572,-
F2l4 1893, while the net was $76,861 1872.
I Capital Stock Tax.
: Under the section requiring capital
stock tax returns, 372 SIG corporations
; filed, showing the following totals:
(: Cash assets, SIC, 800, III. 955; accounts
: receivable. $18,20S. 883,537; notes re-
1ceivable, SIS $50, 461 1875; inventory, $19,-
1872 1884, SOL; fixed property investments,
1887 919 .4SS.8S0.
; Estate tax returns were filed for
. 1912 decedents. with aggregate gross
estates of $3,386. 266,616 OF this mum.
Der. 10,470 We're subject to a total tax
OF $l38.056.542 on aggregate estates Of
$3.50, 663.53S.
e The greatest number Of individual
returns 1,07l 1922, were filed by those
persons with incomes between $1,000
qRnd $4,000. There were 2,074.849 joint
sTeturns; l20,353 by wives making sep
arate returns; 274,139 by men who
9fyeke heads of families; 96.562 by
women in the same position; 1889
by other males and 1892 ,166 by other
women. and 1873 under the conmu-
nifty property laws of the eight States
(which have them on their statute
Books.
r Incomes of S5,O00,0O
- Seven persons, including two in
Michigan and New York, respectively,
rand one each in Illinois, Oklahoma.
and Pennsylvania. filed returns show
gdng incomes OF 10000 or over.
! Seventeen States proved the resi-.
.dences Of the taxed millionaires. New