This report examines the taxation of corporate gains on depreciable business property, an important topic that has received little attention in the economic literature. The analysis reveals that current law, under which gains on such sales are taxed at ordinary tax rates and buyers are allowed...

In this article, we analyze an alternative, more sweeping approach to California tax reform. We examine the complete replacement of personal and corporate income taxes and the current sales tax with a broad-based consumption-oriented retail sales tax, accompanied by rebates to address...