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Attached is a state-by-state breakdown of the number of income tax returns which included income from sole proprietorships. The data were compiled by the Internal Revenue Service based on income tax returns filed in the year 2000 for tax year 1999. Returns that may have included other kinds of business income were not included in these data. From these data it is evident that at least 17.4 million small business owners and entrepreneurs, many of whom currently pay at the 39.6% rate, stand to benefit from the President's tax relief plan. The President's proposal reduces all marginal tax rates, including a reduction in the top rate to 33%.
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