Statistics of Income Bulletin — Summer 2007

Source: Internal Revenue Service, Vol. 27 no. 1, Summer 2007

From press release:
The Internal Revenue Service today announced the release of the summer 2007 issue of the Statistics of Income Bulletin, featuring data from 21.5 million individual income tax returns that reported non-farm sole proprietorship activity in tax year 2005.

Profits from all non-farm sole proprietorships totaled $269.9 billion in 2005, up 9 percent from tax year 2004. After adjusting for inflation, profits rose by 5.5 percent in 2005, which is the biggest year-to-year increase since a 7.2 percent gain in 1998.

All but one sole proprietor industrial sector saw an increase in profits in tax year 2005.

The real estate and rental leasing sector posted a 19.4 percent gain in profits, which was the biggest in percentage terms among the sector categories. Transportation and warehousing was second highest with a 15.5 percent profit gain. Retail trade was third with a 14.6 percent increase. (The sector-specific figures have not been adjusted for inflation.)

Wholesale trade (merchant wholesalers) was the only sole proprietor industrial sector to post a profit decline in tax year 2005 of 3.5 percent.

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