Download or read book Effects of State Taxation on Investment written by Jason Brown and published by . This book was released on 2018 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide theoretical and empirical evidence that firms do not in general respond equally to changes in prices and taxes in the setting of oil well drilling in the United States. Our key theoretical contribution is that in a multi-state model, a change in output price changes both the bene t and opportunity cost of drilling, whereas a change in a state tax rate only changes the bene t of drilling in that state. Thus, a firm responds more to a change in tax than a change in price. Our econometric results support this theoretical prediction. We nd that a one dollar per barrel increasein price leads to a 1 percent increase in wells drilled, but a one dollar per barrel increase in tax leads to at least an 8 percent decrease in wells drilled. These estimates correspond to elasticities of about 0.5 and -0.3, respectively. These results are robust to interstate spillovers, other state regulations, and econometric specification. They imply that using state tax rate decreases to incentivize investment may lead to losses of government revenue.
Download or read book State Taxation Policy written by Michael Barker and published by Duke University Press. This book was released on 1983 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume discusses the problems of state governments in coping with contemporary issues of redesigning taxation policies to encourage economic growth.
Download or read book Measuring the Incentive Effects of State Tax Policies Toward Capital Investment written by George A. Plesko and published by . This book was released on 2001 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of State Taxation of U S Government Obligations on the Structure of Banks Investment and Financing Portfolios written by Anne Beatty and published by . This book was released on 2000 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reports on an examination of the effects of dfferential state taxation of U.S. Government obligations (hereinafter, USOs) on how banks structure their investment and financing portfolios. Twenty-seven states tax banks on their USOs holdings or the income from them and twenty-three states and the District of Columbia do not. We find that banks in states which do not tax these investments hold significantly greater amounts of these assets and, as these assets are the least risky assets banks hold, we also find that banks in non-taxed states hold a less risky mix of assets than banks in taxed states. Consistent with compensating for their riskier asset mix, we also find that banks in states that tax USOs hold a higher ratio of capital to assets. This result is consistent with effective bank regulation in that banks in all states are found to evidence similar overall risk, as measured by the ratio of their capital to risk-weighted assets. Finally, the effects shown in this paper are economically significant. We find that banks operating in untaxed states hold, on average, 125% of the amount of USOs held by banks in taxed states and pay state income taxes, on average, at only 16% of the rate of banks in taxed states.
Download or read book Tax Effects on Investment Location written by and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effects of Taxation written by John Keith Butters and published by Boston : Graduate School of Business Administration, Harvard University. This book was released on 1953 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Labyrinth of Capital Gains Tax Policy written by Leonard E. Burman and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few issues in tax policy are as divisive as the capital gains tax. Should capital gains--the increase in value of assets such as stocks or businesses--be taxed at all? If so, when should they be taxed--when they are earned, or when they are realized? Should taxes be adjusted for inflation? And should gains be taxed at both the individual and corporate levels? In this book, Leonard Burman cuts through the political rhetoric to present the facts about capital gains. He begins by explaining the complex rules that govern the taxation of capital gains, examines the kinds of assets that produce them, and the factors that can lead to gains or losses. He then reviews the effects of capital gains taxation on saving and investment and considers the arguments for and against indexing capital gains taxes for inflation, as well as other options for altering the current system.
Download or read book The Future of State Taxation written by David Brunori and published by The Urban Insitute. This book was released on 1998 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: State tax systems have generally not changed dramatically over the last 50 years, yet they are facing profound challenges. Increased international trade, the advent of electronic commerce, evolving federal-state relations, and interstate competition are just some of the developments that will have a powerful influence on how states collect revenue. This collection of essays from leading tax scholars addresses a wide variety of issues concerning the major sources of state tax revenue and provides insight into what has worked in the past and what will or will not work in the future.
Download or read book The Fiscal State Dependent Effects of Capital Income Tax Cuts written by Alexandra Fotiou and published by International Monetary Fund. This book was released on 2020-05-29 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the post-WWII data of U.S. federal corporate income tax changes, within a Smooth Transition VAR, this paper finds that the output effect of capital income tax cuts is government debt-dependent: it is less expansionary when debt is high than when it is low. To explore the mechanisms that can drive this fiscal state-dependent tax effect, the paper uses a DSGE model with regime-switching fiscal policy and finds that a capital income tax cut is stimulative to the extent that it is unlikely to result in a future fiscal adjustment. As government debt increases to a sufficiently high level, the probability of future fiscal adjustments starts rising, and the expansionary effects of a capital income tax cut can diminish substantially, whether the expected adjustments are through a policy reversal or a consumption tax increase. Also, a capital income tax cut need not always have large revenue feedback effects as suggested in the literature.
Download or read book The Impact of Explicit and Implicit State Taxation of U S Government Obligations on the Structure of Banks Investment and Financing Portfolios written by Anne Beatty and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we examine the effects of differential state taxation of U.S. Government obligations (USOs) on how banks structure their investment and financing portfolios, the riskiness of banks' assets, and how implicit tax effects are impounded in investments' returns. Twenty-seven states tax USOs (taxing states) and twenty-three states and the District of Columbia do not (non-taxing states). We find that banks in taxing states hold significantly greater amounts of USOs, which are among the least risky assets banks can hold, and we find that these banks hold a less risky mix of assets. Consistent with compensating for the lower risk of their asset mix, we also find that these banks hold less capital. Taken together, these results are consistent with effective bank regulation enforcement, since banks have similar capital to risk weighted asset ratios in spite of differing tax-based incentives to hold riskless assets. We also examine the impact of implicit taxes on banks' USO holdings and related accounts and find that in taxing states banks' USO investments are decreasing in their state tax rate. We also find corresponding increases in asset riskiness which banks do not appear to fully compensate for in the highest state-tax-rate states. Finally, the effects shown in this paper are economically significant. For example, we find that banks operating in taxing states hold, on average, 40 percent less USOs than banks in non-taxing states.
Download or read book The Effect of State and Local Taxes on Investment written by Todd Swanstrom and published by . This book was released on 1988 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effect of State Income Tax Apportionment and Tax Incentives on New Capital Expenditures written by Sanjay Gupta and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines how variations in states' corporate income tax regimes affect new capital investment by business. Using U.S. state-aggregated data from 1983 to 1996, we find in pooled and fixed-effects regressions that new capital expenditures by corporations in the manufacturing sector are decreasing in the income tax burden on property (measured as the product of the statutory tax rate and the property factor weight), and increasing at a decreasing rate in investment-related tax incentives. The effect of the income tax burden on property is more pronounced for states mandating unitary taxation or the throwback rule. Triangulating our empirical findings with prior analytical and simulation studies suggests the following hierarchy for the relative importance of major attributes of state corporate income tax regimes: the unitary or throwback requirement is most influential on incremental capital investment, followed by apportionment weights and tax rates, and, finally, investment-related incentives.
Download or read book The Effects of Taxes on Foreign Direct Investment in the United States written by Taejoo Kim and published by . This book was released on 2001 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Income Taxes under Pressure written by Ruud A. de Mooij and published by International Monetary Fund. This book was released on 2021-02-26 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book describes the difficulties of the current international corporate income tax system. It starts by describing its origins and how changes, such as the development of multinational enterprises and digitalization have created fundamental problems, not foreseen at its inception. These include tax competition—as governments try to attract tax bases through low tax rates or incentives, and profit shifting, as companies avoid tax by reporting profits in jurisdictions with lower tax rates. The book then discusses solutions, including both evolutionary changes to the current system and fundamental reform options. It covers both reform efforts already under way, for example under the Inclusive Framework at the OECD, and potential radical reform ideas developed by academics.
Download or read book Understanding the tax reform debate background criteria questions written by and published by DIANE Publishing. This book was released on 2005 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book State Taxation and Economic Development written by Roger J. Vaughan and published by Council of State Policy & Planning Agencies. This book was released on 1979 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Encyclopedia of Taxation Tax Policy written by Joseph J. Cordes and published by The Urban Insitute. This book was released on 2005 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: "From adjusted gross income to zoning and property taxes, the second edition of The Encyclopedia of Taxation and Tax Policy offers the best and most complete guide to taxes and tax-related issues. More than 150 tax practitioners and administrators, policymakers, and academics have contributed. The result is a unique and authoritative reference that examines virtually all tax instruments used by governments (individual income, corporate income, sales and value-added, property, estate and gift, franchise, poll, and many variants of these taxes), as well as characteristics of a good tax system, budgetary issues, and many current federal, state, local, and international tax policy issues. The new edition has been completely revised, with 40 new topics and 200 articles reflecting six years of legislative changes. Each essay provides the generalist with a quick and reliable introduction to many topics but also gives tax specialists the benefit of other experts' best thinking, in a manner that makes the complex understandable. Reference lists point the reader to additional sources of information for each topic. The first edition of The Encyclopedia of Taxation and Tax Policy was selected as an Outstanding Academic Book of the Year (1999) by Choice magazine."--Publisher's website.
