T2 Corporate Income Statistics - Universe Data
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Table 14: Industry 13 - Services, T2 (Form 200) Corporation Income Tax Statistics (amounts in millions of dollars)
| Tax Item | T2 Line number(s) | 2000 | 2001 | 2002 | 2003 | 2004 |
|---|---|---|---|---|---|---|
| Number of tax filers | 397123 | 416520 | 431382 | 442240 | 439632 | |
| Net income or loss for income tax purposes | 300 | 12430 | 15920.1 | 14640.3 | 16261.2 | 21851.2 |
| Section 110.5 additions and/or subparagraph 115(1)(a)(vii) additions | 355 | 13.2 | 14.1 | 21.7 | 10.3 | 43 |
| Less | ||||||
| Charitable donations and gifts | 311, 312, 313, 314 | 93.8 | 85.4 | 86.4 | 94.7 | 106.2 |
| Taxable dividends deductible under section 112, 113, 138(6) | 320 | 2727.1 | 4099.5 | 3341.1 | 4803.1 | 4498.2 |
| Losses from previous years | 331, 332, 333, 334, 335 | 2485.5 | 2304.7 | 2348.8 | 2599 | 2701.1 |
| Other deductions | 325, 340, 350 | 25 | 32.9 | 22.6 | 30.9 | 125 |
| Losses carried back | LCB | 1583.7 | 1171.3 | 843.8 | 367.9 | 156.6 |
| Subtotal | 6915.2 | 7693.6 | 6642.7 | 7895.6 | 7587.1 | |
| Taxable income* | 360 | 14261.7 | 16639.8 | 17443.2 | 18519 | 21501.4 |
| All exempt income (including taxable income of NPO) | 370, Other exempt income** | 907.1 | 2943.9 | 3157.7 | 3027.9 | 3233.3 |
| Adjusted taxable income | 360 - All exempt income | 13354.6 | 13695.8 | 14285.5 | 15491.1 | 18268.1 |
| Base amount of Part I tax | 550 | 5076.2 | 5204.3 | 5428.4 | 5886.6 | 6941.9 |
| Corporate surtax | 600 | 149.6 | 153.4 | 160 | 173.7 | 204.6 |
| Refundable tax on CCPC's investment income*** | 602, 604 | 56.2 | 51 | 43 | 43.2 | 62.1 |
| Subtotal | 5282.1 | 5408.6 | 5631.3 | 6103.5 | 7208.6 | |
| Less credits from part I tax payable | ||||||
| Small business deduction | 430 | 1122.5 | 1242.5 | 1329.1 | 1459.7 | 1660.4 |
| Federal tax abatement | 608 | 1283.7 | 1346.7 | 1403.2 | 1523.6 | 1803.7 |
| Manufacturing and processing deduction | 616 | 47.1 | 43 | 39.3 | 46.8 | 57.6 |
| General tax reduction | 438, 637, 638, 639 | 0 | 44.3 | 140.7 | 237.8 | 402.4 |
| Investment tax credits | 652 + CB (other losses carried back) | 195.2 | 192.7 | 167.5 | 200.9 | 273.6 |
| Other credits | 620, 628, 632, 636, 640, 644, 648 | 191.7 | 112.2 | 108.1 | 112.8 | 98.3 |
| Subtotal | 2840.2 | 2981.4 | 3187.9 | 3581.6 | 4296.1 | |
| Part I tax payable | 700 | 2441.9 | 2427.1 | 2443.4 | 2521.9 | 2912.5 |
| Part I.3 tax payable | 704 | 84.5 | 97 | 91.3 | 85.8 | 45.8 |
| Other federal taxes payable (OFTP) | 708, 712, 716, 720, 727, 728 | 117 | 127 | 174.4 | 93.2 | 204.5 |
| Total federal tax | 700 - PartI.3 tax payable - OFTP | 2643.5 | 2651.2 | 2709 | 2700.9 | 3162.8 |
| All other credits (AOC) | 780, 784, 788, 792, 796, 797, 804, 816 | 516.2 | 624.4 | 692.6 | 621.1 | 754.9 |
| Net federal tax | Total federal tax - AOC | 2127.3 | 2026.7 | 2016.5 | 2079.8 | 2407.9 |
* When the amount in line 300, form 200 (_200_300), minus total deductions is less than zero for a given corporation, Taxable income is entered as zero.
** Other Exempt Income formula
if (_200_550 = 0 and _200_360 > 10) then Other_exempt_inc = _200_360 -_200_355 -_200_370
else Other_exempt_inc = 0
if Other_exempt_inc < 0 then Other_exempt_inc = 0
*** Includes Recapture of Investment Tax Credits
- Date modified:
- 2016-03-15