| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4171 |
| 来源ID | Working Paper 4171 |
| Firms' Responses to Anticipated Reductions in Tax Rates: The Tax Reform Act of 1986 | |
| Myron S. Scholes; G. Peter Wilson; Mark A. Wolfson | |
| 发表日期 | 1992-09-01 |
| 出版年 | 1992 |
| 语种 | 英语 |
| 摘要 | The 1986 Tax Act in the U.S. gradually reduced corporate tax rates from 46 percent prior to the Act to 34 percent by the middle of 1988. This reduction gave firms an incentive, in 1986 and 1987, to shift taxable income to future years when tax rates would be lower. There are substantial impediments, however, to shifting taxable income across periods (notably, offsetting tax consequences to other contracting parties and a host of nontax costs), and it becomes an empirical question as to whether the benefits of shifting taxable income are sufficient to overcome the impediments. This paper examines whether firms deferred income recognition and/or accelerated expense recognition in anticipation of these declining tax rates. We find statistically significant evidence that firms shifted gross margin from the quarter immediately preceding and anticipated decrease in tax rates to the next quarter. We estimate that, on average, the 812 firms in our sample saved approximately five hundred thousand dollars in taxes by deferring sales. At a gross margin rate of one-third, this amounts to nearly twenty billion dollars of shifted sales for our sample firms. |
| 主题 | Public Economics ; Taxation ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w4171 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561525 |
| 推荐引用方式 GB/T 7714 | Myron S. Scholes,G. Peter Wilson,Mark A. Wolfson. Firms' Responses to Anticipated Reductions in Tax Rates: The Tax Reform Act of 1986. 1992. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4171.pdf（427KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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