Taxing Corporate Income in the 21st Century

A state-of-the-art examination of the impact and wisdom of taxing corporate income, first published in 2007.

Alan J. Auerbach (Edited by), James R. Hines, Jr. (Edited by), Joel Slemrod (Edited by)

9781107411517, Cambridge University Press

Paperback / softback, published 29 November 2012

424 pages
22.9 x 15.2 x 2.4 cm, 0.62 kg

“Anyone interested in the issues related to taxing corporate income will find this book well worth their time to read. As highlighted in many of the discussant comments, as many if not more questions are raised than answered in many of the papers and I believe the book will prove to be fertile ground for graduate students and others searching for important and timely research questions.” -- Terry Shevlin, University of Washington

This book was first published in 2007. Most countries levy taxes on corporations, but the impact - and therefore the wisdom - of such taxes is highly controversial among economists. Does the burden of these taxes fall on wealthy shareowners, or is it passed along to those who work for, or buy the products of, corporations? Can a country with high corporate taxes remain competitive in the global economy? This book features research by leading economists and accountants that sheds light on these and related questions, including how taxes affect corporate dividend policy, stock market value, avoidance, and evasion. The studies promise to inform both future tax policy and regulatory policy, especially in light of the Sarbanes-Oxley Act and other actions by the Securities and Exchange Commission that are having profound effects on the market for tax planning and auditing in the wake of the well-publicized accounting scandals in Enron and WorldCom.

Contributors
Preface
1. The effect of taxes on market responses to dividend announcements and payments: what can we learn from the 2003 dividend tax cut? Raj Chetty, Joseph Rosenberg and Emmanuel Saez
Comments Gustavo Grullon
Comments Douglas J. Skinner
2. Dissecting dividend decisions: some clues about the effects of dividend taxation from recent UK reforms Stephen R. Bond, Michael P. Devereux and Alexander Klemm
Comments Roger Gordon
Comments James Poterba
3. The 2003 dividend tax cuts and the value of the firm: an event study Alan J. Auerbach and Kevin A. Hassett
Comments William G. Gale
Comments George R. Zodrow
4. How elastic is the corporate income tax base? Jonathan Gruber and Joshua Rauh
Comments Jane Gravelle
Comments Casey B. Mulligan
5. An empirical examination of corporate tax noncompliance Michelle Hanlon, Lillian Mills and Joel Slemrod
Comments Joseph Bankman
Comments Brian Erard
6. On the extent, growth, and efficiency consequences of state business tax planning Donald Bruce, John Deskins and William F. Fox
Comments William M. Gentry
Comments Charles E. McLure, Jr
7. Corporate taxation and international competition James R. Hines Jr
Comments Jack M. Mintz
Comments John Douglas Wilson
8. The changing role of auditors in corporate tax planning Edward L. Maydew and Douglas A. Shackelford
Comments Steven N. Kaplan
Comments Richard Sansing
9. Taxation and the evolution of aggregate corporate ownership concentration Mihir A. Desai, Dhammika Dharmapala and Winnie Fung
Comments Jeffrey R. Brown
Comments Jeff Strnad
Index.

Subject Areas: Taxation & duties law [LNU], Business & management [KJ], Corporate finance [KFFH], Taxation [KFFD1], Economic history [KCZ], Political economy [KCP]