Less than $500.
Revised

1 For figures for 1863-1915, see 1929 Annual Report, p. 419; for 1916-23, see 1947 Annual
Report, p. 310; and for 1929-35, see 1963 Annual Report, p. 486.

Withheld income taxes and old-age insurance taxes on employees and employers
have been deposited in Treasury without separation as to type of tax since December
1950; since December 1956, disability insurance taxes, and since June 1965, hospital
insurance taxes have been deposited in the same way. For the same periods, the old-age
insurance and disability insurance taxes on the self-employed have been combined
with "Income taxes other." The distribution of amounts of these taxes by type is based
on estimates made by the Secretary of the Treasury in accordance with provisions of
sec. 201 (a) of the Social Security Act, as amended (42 U.S.C. 401(a)). "Individual
income taxes withheld" by employers, 1951-56, include amounts subsequently trans-
ferred to the Government of Guam, under the provisions of the act approved Aug. 1,
1950 (48 U.S.C. 1421h); since 1956 these amounts are excluded.

Beginning with 1952, includes the tax on business income of exempt organizations.
years ending after June 30, 1952.
Income tax on the Alaska Railroad was included until repealed, effective with taxable

Repealed for years ending after June 30, 1945.

Beginning with 1954, includes taxes collected in Puerto Rico upon products of
Puerto Rican manufacture coming into the United States. Tobacco taxes "other"
repealed effective Jan. 1, 1966 (Public Law 89-44).

Through 1956, "Distilled spirits" included amounts collected by Customs on
imports of both distilled spirits and beer. Beginning with 1957, imported beer is included
with "Beer."

'Includes stamp taxes on issues, transfers, and sales of bonds, capital stock, and
similar interest sales until repealed effective June 22, 1965 (Public Law 89-44) and
taxes on silver bullion sales or transfers until repealed effective June 5, 1963 (Public
Law 88-36). Tax on foreign insurance policies (1 cent or 4 cents per $1 of premium)
payable by return on and after Jan. 1, 1966 (Public Law 89-44 and Treasury Decision
6868). Deeds of conveyance, $100 to $500, 55 cents; each additional $500 or fraction
thereof, 55 cents, repealed effective Jan. 1, 1968 (Public Law 89-44).

Passenger automobiles and light trucks repealed Dec. 11, 1971 (Revenue Act of
1971). Motorcycles repealed effective Sept. 1, 1955 (Public Law 379).

1966 (Public Law 89-44). Parts and accessories for automobiles (except truck parts), repealed effective Jan. 1,

Repealed, effective June 22, 1965 (Public Law 89-44).

11 Air conditioners, repealed, effective May 15, 1965; refrigerators and freezers, repealed
effective June 22, 1965 (Public Law 89-44).

12 Includes manufacturers excise taxes on jewelry (1932, repealed by the Revenue Act
of 1936), furs (1932, repealed effective June 30, 1938), and toilet preparations (1939, re-
pealed effective Oct. 1, 1941); beginning 1942 includes manufacturers excise taxes on
phonograph records, musical instruments, and luggage, repealed effective June 22, 1966
(Public Law 89-44). The tax on phonograph records through 1941 was included in
"Radio and television receiving sets and phonograph parts." See also footnote 21.

13 Repealed by Revenue Act of 1951. Collections for the years subsequent to 1952 are
included under "Miscellaneous excise taxes, All other."

14 Negative figure stems primarily from floor stock credits taken on certain taxes re-
pealed by the Excise Tax Reduction Act of 1965.

15 Beginning with fiscal 1957, collections are applied in accordance with provisions of the Highway Revenue Act of 1956, as amended (23 U.S.C. 120 note).

16 General and tou telephone and teletypewriter service reduced to 3 percent, effective
Jan. 1, 1966. Private communications service, telegraph service, and wire equipment
service, repealed, effective Jan. 1, 1966 (Public Law 89-44). For general and toll telephone
service and for teletypewriter exchange service, the rate of tax on amounts paid on bills
Arst rendered on or after Apr. 1. 1968, for services rendered after Jan. 31, 1966, is increased
from 3 percent to 10 percent of the amount paid (Public Law 89-368). For general and toll
telephone service and for teletypewriter exchange service, the rate of tax was scheduled
to be reduced from 10 percent to 1 percent on amounts paid on bills first rendered on or
after Apr. 1, 1968. Public Law 90-285 continued the 10-percent rate to Apr. 30, 1968; the
Revenue and Expenditure Control Act of June 28, 1968 (Public Law 90-364) retro-
actively restored the 10-percent rate.

17 Rate of 10 percent repealed effective Nov. 16, 1962, except on air transportation
which was reduced to 5 percent.

24 Beginning with 1955, includes unidentified and excess collections, and profits from
sale of acquired property. Until 1955, such amounts were included in "Miscellaneous
excise taxes, All other." For 1955-57, includes depositary receipts outstanding 6 months
or more for which no tax accounts were identified.

NOTE.-These figures are from Internal Revenue Service reports of collections. For
years prior to 1955, they are not directly comparable to gross budget receipts from in-
ternal revenue; the differences in amounts occur because of differences in the time
when payments are included in the respective reports. Through 1954, the payments
were included in Internal Revenue Service collection reports after the returns to which
they applied had been received in internal revenue offices. Beginning with 1955, tax
payments are included in budget receipts when reported in the Account of the Treasurer
of the United States.

Under arrangements begun in 1950, for withheld income tax and old-age insurance
taxes and later extended to railroad retirement taxes and many excises, these taxes
are paid currently into Treasury depositaries and the depositary receipts, as evidence
of such payments, are attached to quarterly returns to the Internal Revenue Service.
Under this procedure, the payments are included in budget receipts in the month in
which the depositary receipts are issued to taxpayers.

Revised accounting procedures, effective July 1, 1954, extended this practice to
Internal Revenue Service collection reports, so that these reports include depositary
receipts in the month in which they are issued instead of the month in which tax re-
turns supported by the receipts are received in the directors' offices. It is not possible
to make a complete classification of excise taxes paid into depositaries until the returns
are received. Accordingly, the item "Unclassified excise taxes" includes the amount
of "undistributed depositary receipts," i.e., the amount of depositary receipts issued,
less the amount of depositary receipts received with returns and distributed by classes
of tax, and beginning Jan. 1, 1968, amounts of Federal tax deposit forms purchased
and not yet applied to taxpayers' liabilities.

TABLE 11.-Internal revenue collections and refunds by States, fiscal year 1972 [In thousands of dollars]

Total......

-61

-61

152, 593, 187 34, 925, 546716, 847,036 5,489, 969 209,855, 737 18, 787, 584

31, 708

586, 964

586, 964 1,413

TABLE 11.-Internal revenue collections and refunds by States, fiscal year 1972

Collections from and refunds to U.S. taxpayers in Puerto Rico, Canal Zone, and in foreign countries. Consists of amounts of Federal tax deposit forms purchased and not yet applied to taxpayers' liabilities and the amounts of depositary receipts issued, less the amounts of depositary receipts received with returns and distributed by State.

Net transactions in the clearing account on the central books of the Treasury for withheld income taxes from salaries of Federal employees.

Represents credits allowable on income tax returns for certain gasoline and lubricating oil tax payments and for excess social security payments under the Federal Insurance Contributions Act (FICA).

Includes $38.4 billion transferred to the Federal old-age and survivors insurance trust fund, the Federal disability insurance trust fund, the railroad retirement accounts, the Federal hospital insurance trust fund, and the unemployment trust fund for benefit payments within the States.

7 Includes $5.7 billion gasoline and certain other highway user levies transferred to the highway trust fund for highway construction in States, in accordance with the Highway Revenue Act of 1956, as amended (23 U.S.C. 120 note). Also includes internal revenue collections made by Customs.

Includes reversals due to Individual Master File cancelled checks and undelivered refund checks not obtainable by districts. Also inclusive of the reimbursement of $648 million to the general fund from the Federal old-age and survivors insurance trust fund, the Federal disability insurance trust fund, the highway trust fund, and the Federal unemployment Tax Act (42 U.S.C. 1101 (b) (3)), which is the estimated aggregate of refunds due on taxes collected and transferred.

NOTE.-Receipts in the various States do not indicate the Federal tax burden of each since, in many instances, taxes are collected in one State from residents of another State. For example, withholding taxes reported by employers located near State lines may include substantial amounts withheld from salaries of employees who reside in neighboring States. Likewise payments of refunds within a State may not be applicable to the collections within that State since refunds are payable in the State of residence or principal place of business of the taxpayer which may not be the point at which collections are made.

Collections in full detail by tax source and region are shown in the "Annual Report of the Commissioner of Internal Revenue" and in lesser detail in the "Combined Statement of Receipts, Expenditures and Balances of the United States Government." ""

TABLE 12.-Deposits of earnings by the Federal Reserve banks, fiscal years 1947-721

Boston...
New York.
Philadelphia..
Cleveland.
Richmond.
Atlanta..
Chicago..
St. Louis.

Minneapolis..-
Kansas City.
Dallas...

1947-69

$928, 429, 077. 54 4, 586, 647, 959. 01 993, 941, 494. 43 1, 461, 237, 579.69 1, 183, 093, 397.99 904, 712, 990. 41 3, 031, 189, 521.80 655, 282, 816. 11

355, 330, 956. 32

696, 901, 518. 42
682, 320, 545. 12

138, 154, 190. 56
473, 783, 004. 08

$172, 432, 855. 18
918, 887, 523. 82
181, 615, 304. 78
273, 641, 042, 63
260, 034, 654. 50
170, 380, 347.90
588, 029, 815. 85
120, 915, 256. 34
62, 695, 865, 66
127, 528, 911. 57
153, 672, 459. 41
503, 135, 114. 11

1972

$151, 222, 876. 05
846, 333, 478.55
173, 478, 483. 10
254, 119, 874. 08
235, 960, 927. 12
152, 939, 134. 82
543, 545, 610. 72
113, 988, 672. 01
54, 610, 302. 95
116, 812, 133.80
144, 977, 926. 63
464, 207, 670. 23

Cumulative through 1972

$1,415, 004, 692. 61 7, 178, 648, 581, 09 1, 519, 396, 935. 35 2,245, 564, 455, 56 1,916, 728, 037.66 1,396, 060, 847.33 4,706, 930, 839.86

999, 497, 476, 62 532, 038, 618. 59 1,060, 032, 980. 56 1, 119, 125, 121. 72 3,705, 248, 715. 06

San Francisco.. 2, 264, 122, 926. 64
Total... 17,743, 210, 783. 48 3, 265, 900, 276.72 3,532, 969, 151.75 3, 252, 197, 090. 06 27,794, 277, 302. 01

Through 1959, consists of approximately 90 percent of earnings of the Federal Reserve banks after payment of necessary expenses and statutory dividends, and after provisions for restoring the surplus of each bank to 100 percent of subscribed capital where it fell below that amount. Beginning in 1960, pursuant to a decision by the Board of Governors of the Federal Reserve System, consists of all net earnings after dividends and after provisions for building up surplus to 100 percent of subscribed capital at those banks where surplus is below that amount and also of the amounts by which surplus at the other banks exceed subscribed capital. Beginning in 1965, the surplus is maintained at the level of the paid-in capital instead of subscribed capital.