Table 1.—Principal Source Data and Estimating Methods Used in Preparing Estimates of Current-Dollar GDP—Continued

Component (billions of dollars) Subcomponent (billions of dollars) Annual estimates: Source data and methods used to determine level for benchmark and other years or used to prepare an extrapolator or interpolator Advance quarterly estimates: Source data and methods used to prepare an extrapolator
Income side (Gross national income of $7,697.6 billion for 1996)—Continued
Net interest—Continued Imputed—banks, credit agencies, and investment companies
($180.1)
Property income earned on investment of deposits and monetary interest paid to depositors (and for mutual depositories, profits from Internal Revenue Service tabulations of business tax returns) from annual reports of regulatory agencies and the Federal Reserve Board. Imputed interest (financial services furnished without payment) is allocated to persons, government, and the rest of the world on the basis of deposit liabilities from the same sources. Judgmental trend.
Imputed—life insurance carriers and private noninsured pension plans
($233.7)
Property income earned (and for life insurance carriers, profits) from Internal Revenue Service tabulations of business tax returns, trade sources, and the Federal Reserve Board. Judgmental trend. (Released on same schedule as domestic profits before tax.)
Business transfer payments
($33.6)
Payments to persons: For charitable contributions, for years except most recent, Internal Revenue Service tabulations of business tax returns or, for most recent year, judgmental trend; for other components (such as liability payments for personal injury), for years except most recent, information from government agency reports and trade sources or, for most recent year, judgmental trend. Payments to the rest of the world: Estimated as part of the balance of payments accounts. Judgmental trend.
Indirect business tax and nontax liability
($604.8)
Federal Government
($95.8)
For excise taxes, collections from the Bureau of Alcohol, Tobacco, and Firearms and the Internal Revenue Service; for customs duties, receipts from Monthly Treasury Statement; and for nontaxes (such as fines), receipts from the Budget of the United States prepared by the Office of Management and Budget. For customs duties, Monthly Treasury Statement; for most excise taxes, derived from indicators of activity (such as gasoline production for gasoline tax); for others in this group, judgmental trend.
State and local governments
($508.9)
Receipts from Census Bureau quinquennial censuses and annual and quarterly surveys, adjusted to a calendar year basis from a fiscal year basis. Judgmental trend.
Subsidies less current surplus of government enterprises
($25.4)
Federal Government
($37.7)
For subsidies, payments by the Commodity Credit Corporation from agency reports and, for most other agencies, outlays from Monthly Treasury Statement; for current surplus, mainly reports of various agencies, such as the Postal Service, and consumption of fixed capital estimates derived with perpetual-inventory calculations at current cost, based on gross investment and on investment prices. For subsidies, Commodity Credit Corporation reports and judgmental trend; for current surplus, judgmental trend and consumption of fixed capital estimates derived with perpetual-inventory calculations at current cost, based on gross investment and on investment prices.
State and local governments
(-$12.3)
For subsidies, limited to railroad, Census Bureau annual surveys of expenditures, adjusted to a calendar year basis from a fiscal year basis. For current surplus: For current operating receipts, mainly revenue data from Census Bureau annual surveys of State and local governments, adjusted to a calendar year basis from a fiscal year basis; for current operating expenditures, see entries (1) for "State and local investment in equipment and consumption expenditures, except compensation, consumption of fixed capital, brokerage charges, and financial services furnished without payment" and (2) for "State and local consumption of general government fixed capital" under Government consumption expenditures and gross investment. Judgmental trend.

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