The Statistics of Income Bulletin is issued quarterly by the Statistics of Income Division of the Internal Revenue Service. This report provides the earliest published annual financial statistics obtained from the various types of tax and information returns filed, as well as information from periodic or special analytical studies of particular interest to students of the U.S. tax system, tax policymakers, and tax administrators.
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Nonfarm Sole Proprietorships, Tax Year 2022 PDF
by Adrian Dungan and Adam Snyder
Business receipts for the 31.0 million returns with sole proprietorship activity for TY 2022 increased by 11.4% from TY 2021 to a level of $2,080 billion. The largest industrial sector, based on business receipts, was the construction sector, accounting for $377.1 billion in business receipts. The wholesale trade sector had the largest percentage increase in returns (14.4%), while the arts, entertainment, and recreation sector had the highest percentage increase in receipts (24.4%). Total nonfarm sole proprietorship profits for 2022 decreased 0.2% to $410.7 billion. The professional, scientific, and technical services sector had the largest profits of any sector, at $101.6 billion, representing 24.7% of total sole proprietorship profits, followed by the construction sector, at $54.2 billion or 13.2% of total profits.
Related link: Nonfarm sole proprietorship statistics