Research

The Partnership Report 2026: A Data Profile of U.S. Partnerships (Form 1065)

By The Ledgerism Editorial Team · The Ledgerism Brief Editorial Team produces original, methodology-disclosed accounting and tax research—data trackers, databases, and reference guides built to be the most-cited source in the field. Every figure is verified against primary sources including FASB, the IRS, the PCAOB, NASBA, the AICPA, and state boards of accountancy.

U.S. partnerships are the largest single category of pass-through business by income passed to owners, yet they are less covered than corporations or sole proprietorships. This report compiles the verified federal data on how many partnerships exist, how many partners they cover, how much income they pass through, what share are LLCs, and how that income concentrates by industry and entity type. Every figure below is drawn from the IRS Statistics of Income (SOI) Division, the primary federal source for partnership data, which has published partnership statistics annually since 1957.

A note on timing: SOI partnership data lags roughly two years. As of June 2026, the most recent complete study is Tax Year 2023, released in the SOI Bulletin, Fall 2025. Every statistic here is labeled with its exact tax year. Geography is the United States in all cases.

Executive summary

• U.S. partnerships filed 4,575,280 returns for Tax Year 2023, up 1.7% from 4,500,186 for 2022 (IRS SOI, Partnership Returns, Tax Year 2023, released Fall 2025).
• Those returns covered 30,239,463 partners for Tax Year 2023, up 5.0% from 28,797,574 for 2022 (IRS SOI, Tax Year 2023).
• Limited liability companies (LLCs) made up 72.7% of all partnerships for Tax Year 2023, the leading entity type for 22 consecutive years (IRS SOI, Tax Year 2023).
• Partnerships passed through $2,099.4 billion in total income (loss) minus total deductions for Tax Year 2023, down 17.9% from $2,558.0 billion for 2022 (IRS SOI, Tax Year 2023).
• The Real estate and rental and leasing sector held the most partnerships (50.7%) for Tax Year 2023, but the Finance and insurance sector reported 63.5% of all pass-through income (IRS SOI, Tax Year 2023).
• Net income (less deficit) for all partnerships was $1,680.9 billion for Tax Year 2023 (IRS SOI, Historical Table 11, tax year 2023).
• The number of partnerships grew at an average annual rate of 2.9% over 2014-2023, driven mostly by LLC formation (IRS SOI, Tax Year 2023).
• Pass-through partnerships are central to U.S. business taxation: pass-through entities account for more than 50% of total business net income, up from about 22% in 1980 (Treasury Office of Tax Analysis, Working Paper 104, 2015).

Key findings

1. Partnerships filed 4,575,280 returns in the U.S. for Tax Year 2023, a 1.7% increase over 2022 (IRS SOI, Partnership Returns, Tax Year 2023).
2. Partnerships covered 30,239,463 partners for Tax Year 2023, a 5.0% increase from 28,797,574 for 2022 (IRS SOI, Tax Year 2023).
3. LLCs were 72.7% of all partnerships for Tax Year 2023, numbering about 3,324,538 entities (IRS SOI, Tax Year 2023; Historical Table 11).
4. Limited partnerships were 9.7% of all partnerships for Tax Year 2023 but reported 32.8% of all pass-through income (IRS SOI, Tax Year 2023).
5. Domestic general partnerships were 11.9% (about 542,540) of all partnerships for Tax Year 2023, down 5.4% in number since 2014 (IRS SOI, Tax Year 2023).
6. Partnerships passed through $2,099.4 billion in income (loss) minus deductions for Tax Year 2023, a 17.9% decline from 2022 (IRS SOI, Tax Year 2023).
7. The Finance and insurance sector reported 63.5% of all pass-through income for Tax Year 2023 while holding only 10.7% of partnerships (IRS SOI, Tax Year 2023).
8. The Real estate and rental and leasing sector held 50.7% of all partnerships and 32.8% of all partners for Tax Year 2023, but only 5.5% of pass-through income (IRS SOI, Tax Year 2023).
9. Net income (less deficit) for all partnerships was $1,680.9 billion for Tax Year 2023 (IRS SOI, Historical Table 11, 2023).
10. Total receipts were $12.0 trillion for Tax Year 2023, down 4.4% from $12.5 trillion for 2022 (IRS SOI, Tax Year 2023).
11. Total assets reached $57.3 trillion for Tax Year 2023, up 9.1% from $52.5 trillion for 2022 (IRS SOI, Tax Year 2023).
12. Partners that are themselves partnerships received the largest share of allocated income, $635.5 billion for Tax Year 2023, the 12th consecutive year leading individuals and corporations (IRS SOI, Tax Year 2023).
13. Partnerships with fewer than three partners were 59.7% of all partnerships for Tax Year 2023 (IRS SOI, Tax Year 2023).
14. Partnerships with 100 or more partners were only 0.4% of all partnerships but held 35.5% of all partners for Tax Year 2023 (IRS SOI, Tax Year 2023).
15. The number of partnerships rose from 3,611,255 for Tax Year 2014 to 4,575,280 for Tax Year 2023, a 26.7% increase over the decade (IRS SOI, Tax Year 2015 and Tax Year 2023 bulletins).

Section 1: How many partnerships and partners

SOI counts “active partnerships,” its estimate of entities filing Form 1065 (and historically Form 1065-B), based on a stratified probability sample of returns processed during the following calendar year. This is the authoritative count of operating partnerships and differs from raw IRS Data Book return-processing counts.

The number of partnerships filing for Tax Year 2023 was 4,575,280, a 1.7% increase over 4,500,186 for Tax Year 2022 (IRS SOI, Partnership Returns, Tax Year 2023). The number of partners was 30,239,463 for Tax Year 2023, a 5.0% increase over 28,797,574 for Tax Year 2022 (IRS SOI, Tax Year 2023). The partner count for 2022 had fallen 6.0% from 30,624,451 for Tax Year 2021, so the 2023 rise reversed a one-year decline (IRS SOI, Tax Year 2022).

Over the longer run, the number of partnerships grew at an average annual rate of 2.9% over 2014-2023 (IRS SOI, Tax Year 2023). At the start of that window, Tax Year 2014 recorded 3,611,255 partnerships and 27,714,478 partners (IRS SOI, Partnership Returns, Tax Year 2015). The decade therefore added roughly 964,000 partnerships and 2.5 million partners.

What the numbers mean: partnership formation has been steady and LLC-led. The dip in partner counts for 2022 followed by recovery in 2023 reflects volatility in large multi-tier partnership structures rather than a change in the number of operating entities, which rose in both years.

Table 1: Partnerships and partners, Tax Years 2014, 2015, 2021, 2022, 2023

Note: SOI flags that intermediate-year levels between 2015 and 2021 are not all reproduced here because exact annual counts were verified only for the years shown. Year-over-year percentage changes for every year 2014-2023 are published in SOI Figure A and are reproduced in Table 4 below.

Section 2: Income, net income, and pass-through totals

Partnerships generally pay no entity-level income tax. They “pass through” profits and losses to partners via Schedule K-1, and partners report those amounts on their own returns. SOI’s headline income measure is total income (loss) minus total deductions available for allocation to partners, which it also labels pass-through income (loss).

Pass-through income (loss) was $2,099.4 billion for Tax Year 2023, a 17.9% decrease from $2,558.0 billion for Tax Year 2022 (IRS SOI, Tax Year 2023). The 2022 figure had itself fallen 34.3% from $3,893.5 billion for Tax Year 2021, so pass-through income has declined sharply for two consecutive years off a 2021 peak (IRS SOI, Tax Year 2022). The largest 2023 driver was a $341.2 billion drop in net long-term capital gain (loss) (IRS SOI, Tax Year 2023, Figure E).

A separate but related measure, net income (less deficit), was $1,680.9 billion for Tax Year 2023, the sum of $2,417.2 billion of net income and $736.3 billion of deficit (IRS SOI, Historical Table 11, 2023). For Tax Year 2023, 2,440,870 partnerships reported net income (IRS SOI, Historical Table 11).

Of the $2,099.4 billion allocated for Tax Year 2023, partnerships identified 99.2% ($2,082.6 billion) by type of partner (IRS SOI, Tax Year 2023). Partners that are themselves partnerships received $635.5 billion, partners classified as corporations received $583.1 billion, and partners classified as individuals received $547.4 billion (IRS SOI, Tax Year 2023, Figure J). This is the 12th consecutive year that partnership-type partners led, evidence of widespread multi-tier (partnership-owning-partnership) structures.

Table 2: Pass-through income (loss) and net income, Tax Years 2021-2023

“n/v” = not separately verified for this report from a primary single-figure source. TY2021 receipts of $12.1 trillion derived from the TY2022 statement that 2022 receipts of $12.5 trillion were up 3.3% over 2021; treat as approximate.

Section 3: Entity type (LLC vs limited vs general partnership)

Partnerships classify their structure as one of six entity types on Form 1065, Schedule B: domestic general partnership, domestic limited partnership, domestic LLC, domestic limited liability partnership (LLP), foreign partnership, or “other.”

LLCs were 72.7% of all partnerships for Tax Year 2023, leading all entity types for 22 consecutive years (IRS SOI, Tax Year 2023). LLC partnerships numbered 3,324,538 and covered 14,351,692 partners for Tax Year 2023 (IRS SOI, Historical Table 11). LLC pass-through income fell 32.6% to $674.0 billion for 2023, about 32.1% of all partnership pass-through income (IRS SOI, Tax Year 2023). Notably, LLC losses of $665.7 billion for 2023 exceeded the combined losses of all other partnership types (IRS SOI, Tax Year 2023).

Limited partnerships were 9.7% of all partnerships for Tax Year 2023 (443,623 entities) but reported 32.8% of all pass-through income ($689.1 billion) and 10,348,253 partners (IRS SOI, Tax Year 2023; Historical Table 11). This is the structure used by most private equity, hedge fund, and large real estate vehicles, which explains why a small share of entities carries a large share of income and partners.

Domestic general partnerships were 11.9% (about 542,540) of all partnerships for Tax Year 2023, up 0.4% over 2022 but down 5.4% in number since 2014 (IRS SOI, Tax Year 2023). General partnerships were the most common type before 2002 and have ranked second since.

The LLC share has risen over the decade: it was 67.7% for Tax Year 2015 versus 72.7% for Tax Year 2023 (IRS SOI, Tax Year 2015 and Tax Year 2023). Limited partnerships were reported at 9.6% for 2022 and 9.7% for 2023, broadly flat (IRS SOI, Tax Year 2022 and Tax Year 2023).

Limitation: SOI footnotes that LLC and limited partnership counts are understated because some filers did not answer the entity-type question on returns as originally filed.

Table 3: Partnerships by entity type, Tax Year 2023

Source: IRS SOI, Partnership Returns, Tax Year 2023; IRS SOI Historical Table 11. “n/v” = not separately verified.

Section 4: Industry distribution (real estate and finance)

Two sectors dominate U.S. partnerships, but in different dimensions.

Real estate and rental and leasing held 50.7% of all partnerships for Tax Year 2023 and 32.8% of all partners (IRS SOI, Tax Year 2023). Yet this sector reported only 20.7% of total assets, 7.3% of total receipts, and just 5.5% of pass-through income for 2023 (IRS SOI, Tax Year 2023). Real estate also had the largest single-sector decline in pass-through income for 2023, down $294.4 billion (71.7%) (IRS SOI, Tax Year 2023).

Finance and insurance held only 10.7% of partnerships and 31.7% of partners for Tax Year 2023, but reported the largest shares of total assets (59.9%), total receipts (25.0%), and pass-through income (63.5%) (IRS SOI, Tax Year 2023). Since NAICS reporting began in 1998, finance has led pass-through allocations in every year except 2002.

What the numbers mean: real estate is where partnerships are most numerous (it is the default structure for holding property), while finance is where partnership income concentrates (private equity, hedge funds, and investment vehicles). The gap is stark: finance holds about one entity in nine but nearly two of every three pass-through dollars.

Table 4: Year-over-year percentage change in selected items, Tax Years 2014-2023

Source: IRS SOI, Partnership Returns, Tax Year 2023 (Figure A) and Tax Year 2022 (Figure A).

Section 5: Industry detail for finance and real estate, Tax Year 2023

Source: IRS SOI, Partnership Returns, Tax Year 2023, Figure B.

Original synthesis: three derived insights

These insights are calculated from the verified SOI figures above. Each states its formula, inputs, and limitations. None overrides a published SOI figure.

Insight 1: Average partners per partnership has fallen even as totals rose

Formula: number of partners divided by number of partnerships, by year.

• Tax Year 2014: 27,714,478 / 3,611,255 = 7.67 partners per partnership.
• Tax Year 2022: 28,797,574 / 4,500,186 = 6.40 partners per partnership.
• Tax Year 2023: 30,239,463 / 4,575,280 = 6.61 partners per partnership.

Interpretation: the typical partnership got smaller over the decade. Partnership formation (up 26.7%, 2014-2023) outpaced partner growth (up 9.1%), so the average partnership has roughly one fewer partner than it did in 2014. This is consistent with rapid single-member-adjacent and small LLC formation. Inputs: IRS SOI TY2015 and TY2023 bulletins. Limitation: partner counts include partners that are themselves entities, so this is a structural average, not a headcount of distinct individuals.

Insight 2: Partnership income is extraordinarily concentrated in finance

Formula: a sector’s share of pass-through income divided by its share of partnerships (a concentration ratio where 1.0 = proportional).

• Finance and insurance, Tax Year 2023: 63.5% of income / 10.7% of partnerships = 5.9x its proportional share.
• Real estate and rental and leasing, Tax Year 2023: 5.5% of income / 50.7% of partnerships = 0.11x its proportional share.

Interpretation: a finance partnership generates pass-through income at roughly 54 times the per-entity rate of a real estate partnership (5.9 divided by 0.11). The partnership form serves two almost opposite economic functions: a high-volume, low-income-per-entity property-holding tool (real estate) and a low-volume, high-income investment-management tool (finance). Inputs: IRS SOI TY2023 bulletin. Limitation: shares are of net pass-through income, which nets gains against losses and can be distorted in volatile years.

Insight 3: Partner concentration index, large partnerships hold a disproportionate base

Formula: compare the share of partnerships in a size band to the share of partners they hold.

• For Tax Year 2023, partnerships with 100 or more partners were 0.4% of all partnerships but held 35.5% of all partners (IRS SOI, Tax Year 2023).
• Conversely, partnerships with fewer than three partners were 59.7% of all partnerships for Tax Year 2023 (IRS SOI, Tax Year 2023).

Concentration ratio: the largest 0.4% of partnerships hold partners at roughly 89 times their proportional share (35.5 divided by 0.4). Interpretation: a tiny tier of very large partnerships (typically finance vehicles and master limited partnerships) accounts for more than a third of all K-1 relationships in the United States, while the majority of partnerships are two-partner entities. Inputs: IRS SOI TY2023 bulletin (Figure C). Limitation: this measures partner relationships, not income; income concentration is captured separately in Insight 2.

Charts to create

1. Title: “U.S. partnerships and partners, 2014-2023.” Data: annual partnership and partner counts. Source: IRS SOI bulletins. Insight: steady ~2.9% annual growth in entities while partners per entity fell. Citation-worthy because it is the cleanest long-run picture of partnership formation.
2. Title: “Where partnerships are vs where the income is, Tax Year 2023.” Data: real estate vs finance shares of partnerships, partners, assets, receipts, and pass-through income (paired bars). Source: IRS SOI TY2023. Insight: the 50.7%-of-entities vs 63.5%-of-income split. Highly quotable for the finance-concentration story.
3. Title: “Partnership pass-through income off its 2021 peak.” Data: pass-through income $3,893.5B (2021), $2,558.0B (2022), $2,099.4B (2023). Source: IRS SOI. Insight: two straight years of double-digit declines. Newsworthy macro signal.
4. Title: “LLC dominance of the partnership universe, 2015 vs 2023.” Data: LLC share 67.7% (2015) to 72.7% (2023), with LP and general partnership shares. Source: IRS SOI. Insight: structural shift toward the LLC.
5. Title: “Partner concentration curve, Tax Year 2023.” Data: cumulative share of partners by partnership size band. Source: IRS SOI Figure C. Insight: 0.4% of partnerships hold 35.5% of partners.

Methodology

Source selection: only Tier-1 primary federal sources were used for partnership counts and money amounts, principally the IRS Statistics of Income Division’s annual Partnership Returns bulletins (Tax Years 2015, 2022, and 2023) and SOI Historical Table 11. Treasury Office of Tax Analysis and Joint Committee on Taxation materials were used only for non-partnership-specific macro context (the role of pass-throughs in total business income).

Inclusion rule: a figure was included only if it appeared in a named SOI table or bulletin with an explicit tax year. Exclusion rule: figures that could not be tied to a primary single-source value were marked “n/v” (not verified) or omitted. No projection or older figure is presented as current.

Conflicting numbers: SOI’s “active partnership” counts (used throughout) differ from IRS Data Book Form 1065 processing counts; this report uses SOI counts and flags the distinction. The TY2022 partnership total (4,500,186) and partner total (28,797,574) are consistent across the TY2022 and TY2023 bulletins.

Derived figures: the three synthesis insights divide published SOI totals; formulas and inputs are shown inline. Net income (less deficit) of $1,680.9 billion is taken directly from Historical Table 11 (sum of $2,417.2B net income and $736.3B deficit).

Data limitations: SOI partnership data is sample-based and lags about two years (latest = Tax Year 2023, released Fall 2025). Entity-type counts for LLCs and limited partnerships are understated because of nonresponse to the Schedule B entity-type question. Pass-through income nets gains and losses and is volatile year to year. Date of last update: 2026-06-29.

Source quality ranking

Tier 1 (primary government):
– IRS SOI, Partnership Returns, Tax Year 2023 (SOI Bulletin, Fall 2025) – primary source for counts, partners, entity type, industry, and pass-through income.
– IRS SOI, Partnership Returns, Tax Year 2022 (SOI Bulletin, Fall 2024) – prior-year comparison and 2021 figures.
– IRS SOI, Partnership Returns, Tax Year 2015 (SOI Bulletin, 2017) – 2014 and 2015 baselines and the “since 1957” history.
– IRS SOI Historical Table 11 (tax year 2023) – net income (less deficit), entity counts, balance sheet items.
– IRS Data Book (cited for context on Form 1065 processing as a distinct count).
– Treasury Office of Tax Analysis, Working Paper 104 (2015); Joint Committee on Taxation choice-of-entity materials – macro pass-through context only.

Tier 2 / Tier 3: none relied upon for partnership figures.

Excluded: the 2014 Partnership Returns Line Item Estimates (Publication 5035) was reviewed but does not carry aggregate totals, so it was not used for headline figures. Secondary summaries of SOI data were excluded in favor of the primary bulletins. IRS Data Book Form 1065 filing counts were not assigned a specific number here because the exact current-year cell was not verified from the primary Excel file.

Citation format

• Source: IRS, Statistics of Income Division, Partnership Returns, Tax Year 2023, SOI Bulletin Fall 2025.
• Source: IRS, Statistics of Income Division, Partnership Returns, Tax Year 2022, SOI Bulletin Fall 2024.
• Source: IRS, Statistics of Income Division, Historical Table 11, Partnership Returns: Selected Balance Sheet and Income Statement Items, 1999-2023.
• Source: IRS, Statistics of Income Division, Partnership Returns, Tax Year 2015, SOI Bulletin 2017.

Journalist-friendly additions

Most quotable statistics

• U.S. partnerships filed 4,575,280 returns covering 30.2 million partners for Tax Year 2023 (IRS SOI).
• LLCs are 72.7% of all partnerships, the leading type for 22 straight years (IRS SOI, TY2023).
• The finance sector holds 10.7% of partnerships but 63.5% of partnership pass-through income (IRS SOI, TY2023).
• Real estate is 50.7% of all partnerships but just 5.5% of pass-through income (IRS SOI, TY2023).
• Partnership pass-through income fell to $2.1 trillion for 2023, down from a $3.9 trillion peak in 2021 (IRS SOI).
• The largest 0.4% of partnerships hold 35.5% of all partners (IRS SOI, TY2023).

Data limitations

SOI data lags about two years (latest = Tax Year 2023). Counts are sample estimates. LLC and limited partnership counts are understated due to entity-type nonresponse. Pass-through income nets gains and losses and is volatile. SOI “active partnership” counts differ from IRS Data Book Form 1065 processing counts.

Downloadable dataset, recommended fields

tax_year, metric (partnerships / partners / pass_through_income_usd / net_income_less_deficit_usd / total_assets_usd / total_receipts_usd), entity_type (LLC / limited / general / LLP / other / all), industry_sector (NAICS group), value, yoy_pct_change, source_publication, source_table, release_date, geography (United States), notes_limitations.

150-word press summary

The United States had 4,575,280 partnerships filing Form 1065 for Tax Year 2023, covering 30.2 million partners, according to the latest IRS Statistics of Income data released in Fall 2025. Both counts rose from 2022. Limited liability companies remained the dominant structure at 72.7% of all partnerships, a lead they have held for 22 consecutive years. Partnerships passed through $2.1 trillion in income to their partners for 2023, down 17.9% from 2022 and well below the $3.9 trillion peak of 2021. The data reveals a sharp split: real estate accounts for half of all partnerships but only 5.5% of pass-through income, while the finance and insurance sector holds barely a tenth of partnerships yet reports 63.5% of pass-through income. The largest 0.4% of partnerships, mostly finance vehicles, account for more than a third of all partner relationships. SOI partnership data lags roughly two years.

Five suggested headlines

1. “Partnership Income Falls to $2.1 Trillion, Down Nearly Half From 2021 Peak”
2. “10% of U.S. Partnerships Hold Two-Thirds of the Income: Inside the Finance Concentration”
3. “LLCs Now Account for 72.7% of All U.S. Partnerships, IRS Data Shows”
4. “4.6 Million Partnerships, 30 Million Partners: The 2026 Partnership Data Profile”
5. “Real Estate Owns the Partnership Count; Finance Owns the Money”

Ten FAQs

1. How many partnerships are there in the U.S.? 4,575,280 filed for Tax Year 2023 (IRS SOI).
2. How many partners do they cover? 30,239,463 partners for Tax Year 2023 (IRS SOI).
3. What share are LLCs? 72.7% of all partnerships for Tax Year 2023 (IRS SOI).
4. What share are limited partnerships? 9.7% of partnerships, but 32.8% of pass-through income, for 2023 (IRS SOI).
5. What share are general partnerships? About 11.9% (542,540) for Tax Year 2023 (IRS SOI).
6. How much income do partnerships pass through? $2,099.4 billion for Tax Year 2023, down 17.9% from 2022 (IRS SOI).
7. What was net income (less deficit)? $1,680.9 billion for Tax Year 2023 (IRS SOI Historical Table 11).
8. Which industry has the most partnerships? Real estate and rental and leasing, 50.7% for 2023 (IRS SOI).
9. Which industry has the most income? Finance and insurance, 63.5% of pass-through income for 2023 (IRS SOI).
10. Average partners per partnership? About 6.6 for Tax Year 2023, down from 7.7 for 2014 (derived from IRS SOI).

Sources

1. IRS, Statistics of Income Division, “Partnership Returns, Tax Year 2023,” SOI Bulletin, Fall 2025. https://www.irs.gov/pub/irs-soi/soi-a-copa-id2505.pdf
2. IRS, Statistics of Income Division, “Partnership Returns, Tax Year 2022,” SOI Bulletin, Fall 2024. https://www.irs.gov/pub/irs-soi/soi-a-copa-id2404.pdf
3. IRS, Statistics of Income Division, “Partnership Returns, Tax Year 2015,” SOI Bulletin, 2017. https://www.irs.gov/pub/irs-soi/soi-a-copa-id1803.pdf
4. IRS, Statistics of Income Division, Historical Table 11, “Partnership Returns: Selected Balance Sheet and Income Statement Items, 1999-2023.” https://www.irs.gov/pub/irs-soi/histab11.xlsx
5. IRS, SOI Tax Stats – Partnership statistics (index). https://www.irs.gov/statistics/soi-tax-stats-partnership-statistics
6. IRS, SOI Tax Stats – Partnership returns: Historical and projected data. https://www.irs.gov/statistics/soi-tax-stats-partnership-returns-historical-and-projected-data
7. IRS, SOI Tax Stats – Numbers of returns filed by type of return, IRS Data Book Table 2. https://www.irs.gov/statistics/soi-tax-stats-numbers-of-returns-filed-by-type-of-return-irs-data-book-table-2
8. U.S. Department of the Treasury, Office of Tax Analysis, Working Paper 104, October 2015 (pass-through context). https://home.treasury.gov/system/files/131/wp-104.pdf
9. Joint Committee on Taxation, “Selected Issues Relating to Choice of Business Entity” (pass-through context). https://www.jct.gov/getattachment/db9665d7-d941-462e-b056-c2ba5ecf02f5/x-66-12-4478.pdf

Related research

More original, sourced datasets from The Ledgerism Brief:

• Business Entity Comparison — LLC vs S-corp vs C-corp vs partnership vs sole prop.
• The Pass-Through Economy Report — How U.S. business income left the corporate form.
• S Corporation Report — 5.27M S corps: income, industry, and shareholders.
• Small Business Tax Report — Composition, tax burden, and survival rates.
• Corporate Tax Rate Database — Worldwide statutory and effective rates.