State personal income, 1977-84: revised estimates.
All the stimates presented here except those for 1977 in table 1 supersede those published previously. The estimates of income by type and industry for 1978-80 have also been revised but are not published. They can be obtained from the Regional Economic Information System, as explained in the box on page 43. The recent publication State Personal Income: 1929-82 contains a description of the sources and methods used to prepare the State personal income estimates and presents--for each State and also for the eight regions and the United States--annual total and per capita personal income for 1929-82, annual total and per capita disposable personal income for 1948-82, personal income by type and industry for 1929-82, and quarterly total personal income for 1948-82.
The estimates presented here reflect several major changes as well as routine annual revisions. The estimates of farm proprietors' income have been revised for 1978 and later years to reflect the results of the 1978 Censs of Agriculture. The nonfarm proprietors' income estimates have been revised for the same years based on tabulations of 1978 and 1980 data reported to the Internal Revenue Service (IRS) on Schedule SE, Form 1040. Previous revisions affecting the 1980-83 residence adjustment estimates for the District of Columbia and Virginia, based on income data from the 1980 Census of Population, have now been applied to 1978-79. The disposable personal income estimates for 1977 and later years reflect revisions to the Federal income tax refunds component of personal tax and nontax payments, based on published IRS data. 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 that State. It consists of the income received by persons from all sources: from participation in production, from transfer payments from government and business, and from government interest. Persons, in this definition, are individuals, nonprofit institutions, private noninsured welfare funds, and private trust funds. Personal income is measured as the sum of wage and salary disbursements, other labor income, proprietors' income with the inventory valuation and capital consumption adjustments, personal divided income, personal interest income, rental income of persons with capital consumption adjustment, and transfer payments, less personal contribtions for social insurance. Per capita personal income is total personal income (for the year) divided by the resident population as of July 1.
Disposable personal income is defined as personal income less personal tax and nontax payments. Personal taxes include income, estate and gift, personal property, and selected license taxes. Personal contributions for social insurance are not treated as taxes. Nontax payments include passport fees, fines and penalties, donations, tuition and fees paid to schools and hospitals operated by government, and other miscellaneous revenues. Per capita disposable personal income is the disposable personal income divided by resident population as of July 1.
The definitions underlying the State estimates are essentially the same as those underlying the personal income estimates in the national income and product accounts. The major difference is the treatment of U.S. residents temporarily working abroad. The National estimates include Federal civilian and military personnel stationed abroad and U.S. residents who are employed by private U.S. firms and are on temporary foreign assignment. The State estimates include only persons residing in the 50 States and the District of Columbia.
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|Publication:||Survey of Current Business|
|Date:||Aug 1, 1984|
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