Washington (Sept. 12, 2002) -- The Internal Revenue Service Summer 2002 issue of the Statistics of Income Bulletin zeroes in on nonfarm sole proprietorships, corporate profits, capital gains for individuals, and income paid to foreigners.Profits for nonfarm sole proprietorships grew 3.3 percent to $214.7 billion in tax year 2000. The real estate and rental leasing sector reported the largest growth at 12.4 percent. However, the professional, scientific and technical services sector had the largest profits of any sector at $48.1 billion, or 22.4 percent of total sole proprietorship profits.
In addition, corporate pre-tax profits grew 10.8 percent in 1999 to $929.0 billion. The finance, insurance, real estate, and rental and leasing division had the largest pre-tax profit increase by division, up 24.9 percent to $367.2 billion. Net capital gains for individuals increased by almost 22 percent for Tax Year 1998, up by over $77 billion from Tax Year 1997 amounts to $432.2 billion.
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