TABLE 15.-Internal revenue collections by tax sources, fiscal years 1929–60 1—Con.

1 For figures for 1863-1915, see 1929 annual report, p. 419; and for 1916-1928, see 1947 annual report, p. 310. Beginning with January 1951, withheld income taxes and old-age insurance taxes on employees and employers and, beginning with January 1957, disability insurance taxes on employees and employers are paid into the Treasury in combined amounts without separation as to type of tax. Similarly, for the same periods, the old-age insurance and disability insurance taxes on self-employment income are combined with income tax other than withheld. The distribution of amounts of these taxes by type is based on estimates made in accordance with provisions of Section 201 (a) of the Social Security Act, as amended (42 U. S. C. 401 (a)). Individual income taxes withheld by employers, 1951 through 1956, include amounts subsequently transferred to the Government of Guam, under the provisions of the act approved August 1, 1950 (48 U. S. C. 1421 h). Beginning with 1957 these amounts are excluded.

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 Includes income tax on the Alaska Railroad, which was repealed effective for taxable years ending after June 30, 1952.

Repealed for years ending in period July 1, 1926, through June 30, 1932, and for years ending after June 30, 1945. Beginning with 1951 included under "Miscellaneous excise taxes, All other."

Beginning with 1954 includes amounts of tax collected in Puerto Rico upon products of Puerto Rican manufacture coming into the United States; data for earlier years are exclusive of such amounts.

For 1956 and earlier years amounts shown for "Distilled spirits" include amounts collected by Customs on imports of both distilled spirits and beer. Beginning with 1957 the method of reporting has been revised to include imported beer under "Beer" instead of "Distilled spirits."

7 Includes stamp taxes on bonds, issues of capital stock, deeds of conveyance, transfers of capital stock and similar interest sales, playing cards, and silver bullion sales or transfers.

8 Includes taxes on sales under the act of October 22, 1914; manufacturers', consumers', and dealers' excise taxes under war revenue and subsequent acts; and for 1932 and subsequent years, manufacturers' excise taxes under the act of 1932, as amended. Soft drink taxes are included under "Miscellaneous excise taxes, All other."

Beginning with 1933 includes manufacturers' excise taxes on jewelry, furs, and toilet preparations; beginning 1942 includes manufacturers' excise taxes on phonograph records, musical instruments, and luggage. The tax on phonograph records for 1933 through 1941 was not reported separately and is included inRadio and television receiving sets and phonographs, parts."

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

11 Repealed effective August 1, 1958.

12 Includes collections from sources other than the micellaneous excise taxes shown, and also (a) certain delinquent taxes collected under repealed laws, except automobile taxes for 1929 and 1930 which are included under "Manufacturers' excise taxes, All other," and capital stock taxes prior to 1951 which are shown under "Capital stock"; (b) internal revenue collected through customs offices for 1929-33; subsequently such collections are included under "Alcohol taxes" and (c) various other taxes not shown separately.

13 Includes undistributed depositary receipts and unapplied collections of excise taxes. 14 Consists of agricultural adjustment taxes.

15 Beginning with 1955, includes unidentified and excess collections, and profit from sale of acquired prop. erty. For 1954 and earlier years such amounts are included in "Miscellaneous excise taxes, All other." For 1955 through 1957 also includes depositary receipts outstanding six months or more for which no tax accounts were identified.

NOTE. These figures are from Internal Revenue Service reports of collections and for years prior to 1955 are not directly comparable to gross budget receipts from internal revenue. The differences in amounts occur because of differences in the time when payments are included in the respective reports. Tax payments are included in budget receipts when reported in the account of the Treasurer of the United States. 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.

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 deposi taries and the depositary receipts, as evidence of such payment, 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 likewise include depositary receipts in the month in which they are issued instead of the month in which tax returns supported by the receipts were received in 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.

TABLE 16.—Internal revenue collections and refunds by States,1 fiscal year 1960 [In thousands of dollars. As reported by Internal Revenue Service; see "Bases of Tables" and the note to

table 15]

1 Collections in the various States do not necessarily indicate the Federal tax burden of the respective States, since the taxes collected in one State are, in many instances, borne by residents of other 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.

2 Included with the State of Washington.

Includes the District of Columbia.

4 Consists of collections from and refunds to United States taxpayers in Puerto Rico, Canal Zone, etc., and in foreign countries.

$ Includes $10.8 billion transferred to the Federal old-age and survivors insurance trust fund, the Federal disability insurance trust fund, and the railroad retirement account as provided by the Social Security Act, as amended (42 U.S.C. 401 (a)(b)) and the Railroad Retirement Tax Act (45 U.S.C. 228e(k)), for benefit payments within the States.

Includes $2.6 billion gasoline and certain other highway user levies transferred to the highway trust fund for highway construction in the States, in accordance with the act approved June 29, 1956 (23 U.S.C. 120 note).

7 Not reduced by the reimbursement of $193 million to the general fund from the Federal old-age and survivors insurance trust fund, the Federal disability insurance trust fund, and the highway trust fund, the estimated aggregate of refunds due on the taxes collected and transferred to these funds.

NOTE. 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, fiscal year 1960.

TABLE 17.-Customs collections and refunds, fiscal years 1959 and 1960
[On basis of Bureau of Customs accounts]

1 Includes miscellaneous customs collections of Puerto Rico and the Virgin Islands and for 1960 those of other Government agencies. Components have been reclassified to conform with an accounting revision. The amount of increase is so large that a percentage comparison is inappropriate.

TABLE 18.-Deposits by the Federal Reserve Banks of interest charged on unredeemed Federal Reserve notes, fiscal years 1947-60 1

1 Pursuant to sec. 16 of the Federal Reserve Act, as amended (12 U.S.C. 414). Through 1959, consisted 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 provision 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 exceeds subscribed capital.

TABLE 19.-Postal receipts and expenditures, fiscal years 1916–601

Extraordinary

Surplus, or
deficit (-)

1 For figures from 1789 through 1915 see Secretary's annual report for 1946, p. 419.

Includes adjusted losses, etc., postal funds and expenditures from postal balances, but excludes departmental expenditures in Washington, D. C., through 1922, and amounts transferred to the civil service retirement and disability fund, 1921 through 1926. From 1927 to date includes salary deductions paid to and deposited for credit to the retirement fund.

On basis of warrants-issued adjusted to basis of daily Treasury statements through 1947.

Advances to the Postmaster General to meet estimated deficiencies in postal revenues, reduced by repayments from prior year advances. Excludes allowances for offsets of extraordinary expenditures or the cost of free mailings. Figures are on basis of warrants issued adjusted to basis of daily Treasury statements through 1953, and thereafter on basis of the central accounts of the U. S. Government maintained by the Treasury Department.

Excludes payments from general fund appropriation "Additional Compensation, Postal Service," pursuant to act of November 8, 1919, as follows: 1920, $35,698,400; 1921, $1,374,015; and 1922, $6,700. Also excludes transfers to the civil service retirement and disability fund on account of salary deductions, as follows: 1921, $6,519,683; 1922, $7,899,006; 1923, $8,284,081; 1924, $8,679,658; 1925, $10,266,977; and 1926, $10,472,289 (see note 2).

Repayment of unexpended portion of prior years' advances.

7 Transactions for 1954 through 1960 are on the basis of cash receipts and expenditures as reported by the Post Office Department. Reports of the Postmaster General are on a modified accrual basis. See letter of the Postmaster General in exhibits in annual reports prior to 1958.

Under the act of May 27, 1958 (72 Stat. 143), the Postmaster General is no longer required to certify the estimated amounts of postage that would have been collected on certain free or reduced-rate mailings.