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Consistent Valuation and Cost of Capital Expressions with Corporate and Personal Taxes

Taggart, Robert Alexander - 2002

This paper examines three valuation methods, each of which should lead to the same value for a given asset. These are the Adjusted Present Value, Adjusted Discount Rate and Flows to Equity methods. To achieve identical valuations, however, the different methods must be implemented with cost of...

Persistent link: https://www.econbiz.de/10012787478

Are "Real" Responses to Taxes Simply Income Shifting between Corporate and Personal Tax Bases?

Gordon, Roger H.; Slemrod, Joel - 2021

Two well-noted phenomena of recent decades are the increasing concentration of personal income and the declining rate of corporate profitability. This paper investigates to what extent these two trends have a common explanation extent these two trends have a common explanation-shifting of income...

Persistent link: https://www.econbiz.de/10013222906

Imputing Corporate Tax Liabilities to Individual Taxpayers

Feldstein, Martin S. - 2021

This paper presents a method of studying the distributional consequences of corporate tax changes by imputing to individual tax returns the net effect of changes in effective corporate tax rates. Particular attention is given to the difference between nominal and real capital income, to the...

Persistent link: https://www.econbiz.de/10013225154

The Uneasy Marriage of Export Incentives and the Income Tax

Desai, Mihir A.; Hines, James R. - 2021

some export profits to foreign source income for purposes of U.S. taxation. The analysis highlights three important aspects …

Persistent link: https://www.econbiz.de/10013227032

Taxable and Tax-Exempt Interest Rates : the Role of Personal and Corporate Tax Rates

Peek, Joe; Wilcox, James A. - 2021

This paper investigates empirically the effects of personal and corporate taxes on taxable interest rates and on the spread between taxable and tax-exempt rates. Two main sets of results emerge. First, we establish that the effective marginal investors in the Treasury bill market are households,...

Persistent link: https://www.econbiz.de/10013238720

Nonprofit Business Activity and the Unrelated Business Income Tax

Hines Jr., James R. - 2021

American nonprofit organizations are generally exempt from federal income tax, with the exception that profits earned from activities that are subject to the Unrelated Business Income Tax (UBIT). The UBIT is intended to prevent nonprofits and taxable for-profit firms, and also to prevent erosion...

Persistent link: https://www.econbiz.de/10013246372

On the Possibility of an Inverse Relationship between Tax Rates and Government Revenues

Fullerton, Don - 2021

When Arthur Laffer or other "supply side advocates" plot total tax revenue as a function of a particular tax rate, he draws an upward sloping segment called the normal range, followed by a downward sloping segment called the prohibitive range. Since a given revenue can be obtained with either of...

Persistent link: https://www.econbiz.de/10013233785

The Japanese Tax Reform and the Effective Rate of Tax on Japanese Corporate Investments

Shoven, John B. - 2010

pressures for reform, both domestic and international. Finally, the paper looks at how the taxation of capital income in Japan … has changed since 1980 and how it compares to the U.S. taxation of capital income after our 1986 tax reform. One major … 1980 from roughly five percent to about 32 percent. This change, which still leaves the marginal taxation on corporate …

Persistent link: https://www.econbiz.de/10012762765

Personal Taxation, Portfolio Choice and the Effect of the Corporation Income Tax

Feldstein, Martin S. - 2010

Extending the traditional treatment of the corporate tax to an economy with a progressive personal tax fundamentally changes the analysis. While the corporate tax system (CTS) does increase the total tax rate on corporate source income for some investors, the exclusion of retained earnings...

Persistent link: https://www.econbiz.de/10012763215

Income Tax Provisions Affecting Owner-Occupied Housing : Revenue Costs and Incentive Effects

Poterba, James M. - 2012

-occupied homes, and the absence of taxation on imputed rent from owner-occupied homes all influence the effective cost of housing …

Persistent link: https://www.econbiz.de/10012755087