The authors go on to estimate how the burden of state-level corporate income taxes
ultimately affects the returns earned by corporations and their shareholders, the wages received by workers who live in a state, and landowners in the state.
The remainder of this literature review summarizes studies that are narrowly focused on state corporate income taxes
and/or state employment growth.
In the penultimate section, we discuss some of the policy implications that flow from our computations of the MCF for both the federal and provincial governments, our results indicate that the cost of raising additional tax revenue through corporate and personal income tax increases is high, and that significant welfare gains would flow from reducing provincial corporate income taxes
along with a revenue-neutral switch to higher provincial sales taxes in Alberta, British Columbia, Manitoba, New Brunswick, and Quebec.
50 for every $1 reduction in state and local corporate income taxes
Much of the decline in federal corporate income taxes
is a result of Congress's allowance of passthrough entities for federal income tax purposes.
For defenders of state corporate income taxes
, Bankman's conclusions are not hopeful.
The new government released its budget message on May 2, 2006, adopting the first of TEI's budget recommendations to (i) implement a phased reduction of corporate income taxes
, (ii) eliminate the corporate surtax, and (iii) accelerate elimination of the Large Corporation Tax effective as of January 1, 2006.
In 2003, 252 Fortune 500 companies shielded two-thirds of all profits from state corporate income taxes
Nearly all of these states raised sufficient revenue without imposing at least one of the three state taxes - sales, personal income and corporate income taxes
, according to the Tax Foundation, a nonprofit research group based in Washington, D.
Traditionally, discussions of Indiana corporate income taxes
refer to the gross income tax, corporate adjusted gross income tax, and the supplemental net income tax (SNIT).
To put that figure in perspective, it's useful to note that in 2002 the federal government collected $949 billion in individual income taxes and $201 billion in corporate income taxes
To say that stockholders pay corporate income taxes
is at complete odds with the facts.