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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w15177 |
来源ID | Working Paper 15177 |
The Effects of the Length of the Tax-Loss Carryback Period on Tax Receipts and Corporate Marginal Tax Rates | |
John R. Graham; Hyunseob Kim | |
发表日期 | 2009-07-23 |
出版年 | 2009 |
语种 | 英语 |
摘要 | We investigate how the length of the net operating loss carryback period affects corporate liquidity and marginal tax rates. We estimate that extending the carryback period from two to five years, as recently proposed in President Obama's budget blueprint, would provide $19 ($34) billion of additional liquidity to the corporate sector for 2008 (2009). Our calculations imply that the benefits of the extended carryback period would be concentrated in the homebuilding, automobile, and financial industries. Extending the carryback period would increase the marginal tax rate of loss firms by more than 200 basis points on average, which all else equal would lead corporations to use an additional $8 ($10) billion of debt and reduce tax payments by another $1.2 ($1.5) billion in 2008 (2009). Overall, the tax break proposed by the Obama administration would have a significant liquidity effect on corporations suffering large losses in recent years. If the tax proposal were extended to include TARP firms, the liquidity effect would triple in size. |
主题 | Financial Economics ; Corporate Finance ; Public Economics ; Taxation ; Other ; Law and Economics |
URL | https://www.nber.org/papers/w15177 |
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/572853 |
推荐引用方式 GB/T 7714 | John R. Graham,Hyunseob Kim. The Effects of the Length of the Tax-Loss Carryback Period on Tax Receipts and Corporate Marginal Tax Rates. 2009. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w15177.pdf(95KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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