Footnotes for historical tables 11 to 20, pp. 351-416-Continued each return. For 1937, "Surplus and undivided profits" consists of the sum of the positive amounts reported under "Paid in or capital surplus," "Earned surplus and undivided profits," and "Surplus reserves"; "Deficit" consists of the sum of the negative amounts reported under "Earned surplus and undivided profits." For 1938 and subsequent years, the method of tabulation is the same as for 1937, except that "Surplus reserves," being tabulated separately, are excluded from "Surplus and undivided profits." 80 "Other investments" are included in "Other assets" for all corporations, 1926-28; and for life insurance companies 1926-29. 81 Items of receipts and deductions, "Compiled net profit or net loss," "Net income or deficit," "Prior year loss," tax and dividends paid are not available for corporation returns with balance sheets for the years 1926-30 but are shown for all returns in table 13. 82 See note 36, table A, p. 464. 86 For types of corporations permitted to file a consolidated return and for criteria of affiliation, see "Synopsis of Federal Tax Laws," pp. 470-476. 87 Data for earlier years not available. 88 For data pertaining to consolidated excess profits tax returns, see table 20, p. 416. 89 The number of subsidiaries consists of the number of affiliated corporations which, together with the common parent corporation, file a consolidated return. 90 "Gross income" is substituted for "Total compiled receipts," for 1931 and 1934. See notes 3 and 24. 91 Includes (declared value) excess-profits tax (effective June 30, 1933, under provisions of National Industrial Recovery Act) aggregating $254,401. 92 Of this number, 76 returns were for common carriers by railroad, the other 369 being returns permitted to be filed for fiscal years ending prior to December 31, 1934, by corporations other than common carriers by railroad. * Includes pan-American trade corporations. 94 Beginning 1942, the consolidated return privilege is again extended, in general, to all corporations. (See table C, pp. 470-476..) 95 Excludes returns filed for fiscal years ending in period July through November 1941 (filed under 1940 law). COMPARISON OF MAJOR INDUSTRIAL GROUPS FOR 1948 AND 1947 For 1948, changes have been made in the contents of certain industry groups to conform, generally, with recent changes in the Standard Industrial Classification. On pages 428-431 there is presented a chart for comparison of the 1948 major industrial groups in basic tables 3, 4, 6, and 7 in this report with the 1947 major industrial groups in basic tables 3, 4, 6, and 7 in Statistics of Income for 1947, Part 2. In Part I of the chart, pages 428-429, the 1947 major industrial groups in the second column are grouped to show combinations which are equivalent to the 1948 major industrial groups in the first column, with the exception of the industrial activities referred to by designating numbers in the last two columns. These designating numbers refer to industrial activities which were shifted, by the industrial classification used for 1948, from one major industrial group to another major industrial group and for which tabulated data are not available for 1948 and 1947. The industrial activity, represented by each designating number, and the major groups in which the activity is classified for 1948 and 1947 are shown in Part II of the chart, pages 430-431. The use of the chart on pages 428-431 may be illustrated as follows: The major industrial group designated "Farms and agricultural services" is comparable with the 1947 major industrial group designated "Agriculture and services" except that "Contract sorting, grading, and packing of fruits and vegetables for the grower," No. 1, which is included in "Farms and agricultural services "for 1948, is included in "Transportation" for 1947; and "Irrigation systems," No. 54, which is included in "Other public utilities" for 1948, is included in "Agriculture and services" for 1947. Attention is called to the major industrial groups designated "Fabricated metal products, except ordnance, machinery, and transportation equipment," "Ordnance and accessories," and "Scientific instruments; photographic equipment; watches, clocks." The horizontal dotted line opposite these three groups in the second column of Part I of the chart, pages 428-429, indicates that there was no corresponding major group for 1947. To determine the previous classification of activities comprising these groups, see designating numbers 12-26; 34; and 35-48, respectively, in Part II of the chart, pages 430431. Vice versa, in the second column of Part I of the chart, attention is called to the major industrial groups designated "Other finance companies" and "Finance not allocable." The horizontal dotted line opposite these two groups in the first column of Part I of the chart indicates that there is no corresponding group for 1948. For 1948, the former is included in "Holding and other finance companies"; and the latter in "Credit agencies other than banks." |