Printer Friendly

State personal income, 1986-88: revised estimates.

State Personal Income, 1986-88: Revised Estimates

THIS article presents revised annual estimates of State personal income for 1986-88. Tables 1 and 2 present the estimates of total and per capita personal income and total and per capita disposable personal income, respectively. Table 3 presents detailed estimates of the sources of personal income by type of payment and by industry for 1986-88. The entire time series of State personal income--that is, for 1929-88--is available in summary and detailed tabulations (see the box on page 46).

Definition of total and per capita

personal income

The personal income of a State is defined as the income received by, or on behalf of, all the residents of the State. It consists of the income received by persons from all sources--that is, from participation in production, from both government and business transfer payments, and from government interest. Personal income is measured as the sum of wage and salary disbursements, other labor income, proprietors' income, rental income of persons, personal dividend income, personal interest income, and transfer payments, less personal contributions for social insurance. State per capita personal income is measured as the personal income of the residents of a State divided by the July 1 resident population of the State.

In the national and regional economic accounts, persons are defined as individuals, nonprofit institutions serving individuals, private noninsured welfare funds, and private trust funds.

Disposable personal income is measured as personal income less personal tax nd nontax payments; it is the income available to persons for spending or saving. Personal tax and nontax payments are tax payments by persons that are not chargeable to business expense and certain other personal payments to government agencies (except government enterprises) that are treated like taxes. Personal taxes include taxes on income, including realized net capital gains; on transfers of estates and gifts; and on personal property. Nontaxes include tuitions and fees paid to government-operated schools and hospitals; fees, fines, and forfeitures; and donations. Personal contributions for social insurance, which are deducted in the derivation of personal income, are not included in personal tax and nontax payments. State per capita disposable personal income is measured as the disposable personal income of the residents of a State divided by the July 1 resident population of the State.

The definitions underlying the State estimates of personal income are essentially the same as those underlying the personal income estimates in the national income and product accounts. The major difference is that the national estimates include the labor earnings (that is, wages and salaries and other labor income) of U.S. residents who are temporarily working and living abroad (mainly Federal civilian and military personnel), whereas the State estimates include the labor earnings of persons residing only in the 50 States and the District of Columbia.
COPYRIGHT 1989 U.S. Government Printing Office
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1989 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Survey of Current Business
Date:Aug 1, 1989
Words:463
Previous Article:Relationship between personal income and adjusted gross income: revised estimates, 1985-87.
Next Article:Foreign direct investment in the United States: detail for position and balance of payments flows, 1988.
Topics:


Related Articles
The business situation.
The U.S. national income and product accounts: revised estimates.
Per capita personal income: continued widening of regional differences in 1988.
National income and product accounts tables.
Relationship between personal income and adjusted gross income: revised estimates, 1985-87.
Relationship between personal income and adjusted gross income, 1987-88.
State personal income, 1987-89: revised estimates.
Regional perspectives; state personal income: methodological improvements.
County and metropolitan area personal income, 1986-88.
National income and product accounts.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters