| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28680 |
| 来源ID | Working Paper 28680 |
| How Do Business Owners Respond to a Tax Cut? Examining the 199A Deduction for Pass-through Firms | |
| Lucas Goodman; Katherine Lim; Bruce Sacerdote; Andrew Whitten | |
| 发表日期 | 2021-04-12 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We consider the short-run responses of businesses and their owners to the introduction of Section 199A, a deduction implemented in 2018 that reduced the effective tax rate on pass-through business income. We study the deduction using several datasets derived from de-identified tax records of individuals and businesses. Overall, we do not find an increase in 2018 in business income likely to be eligible for the deduction, either in the time series or among firms with greater exposure to the deduction due to plausibly exogenous characteristics. We additionally examine specific hypothesized margins of adjustment. We find that partnerships (one type of pass-through business) reduce compensation paid to owners, in line with the incentives created by 199A, but that S corporations (another type of pass-through business) mostly do not. Additionally, we do not find that workers – whether new hires or current employees – switch from employee to contractor status to claim the new deduction. Finally, we find no evidence of changes in real economic activity as measured by physical investment, wages to non-owners, or employment of nonowners, though this analysis is underpowered in the short-run. |
| 主题 | Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w28680 |
| 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/586353 |
| 推荐引用方式 GB/T 7714 | Lucas Goodman,Katherine Lim,Bruce Sacerdote,et al. How Do Business Owners Respond to a Tax Cut? Examining the 199A Deduction for Pass-through Firms. 2021. |
| 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 | ||
| w28680.pdf（482KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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