National Tax Journal articles from March 2003

National Tax Journal archives from March 2003

Tax from any angle: reflections on multi-disciplinary tax research.
March 1, 2003... A meeting of accountants and economists to talk about taxation sounds like the setup for any of a thousand or so jokes. Many of the punch lines of these jokes concern what a boring lot we are. The somewhat enlightened believe that accountants...

Investment subsidies and wages in capital goods industries: to the workers go the spoils?
March 1, 2003... INTRODUCTION This paper examines a neglected aspect of the short-run incidence of investment subsidies, namely their impact on wages of capital suppliers. A long standing literature has found that capital investment responds less to...

"What's come to perfection perishes": adjusting capital gains taxation in Italy.
March 1, 2003... INTRODUCTION Capital gains taxation on a realization basis is known to give rise to a number of distortions in behavior. "Lock-in effects," the absence of constructive realization at death and arbitrage opportunities that exploit...

Intangible income, intercompany transactions, income shifting, and the choice of location.(multinational corporations)
March 1, 2003... INTRODUCTION Several studies have found evidence indicating that multinational corporations (MNCs) shift income from high-tax to low-tax locations (Grubert and Mutti, 1991; Hines and Rice, 1994, among others). But there has not been much...

The effect of nonprofits' taxable activities on the supply of private donations.
March 1, 2003... INTRODUCTION Nonprofit organizations constitute over 10 percent of the Unites States Gross Domestic Product and supply a significant portion of social services (Meckstroth and Arnsberger, 1998). Principal sources of nonprofit financing...

How prevalent is tax arbitrage? Evidence from the market for municipal bonds.
March 1, 2003... INTRODUCTION Tax arbitrage plays a central role in the literatures on capital structure, tax capitalization, and implicit taxes. Though it is common to assume that market participants will take advantage of any discrepancies in returns...

Mutual fund capital gain distributions and the Tax Reform Act of 1997.
March 1, 2003... INTRODUCTION Over the last few years, there has been a growing popular interest in tax-managed mutual funds. Managers of these funds explicitly consider the tax consequences of portfolio management and attempt to increase after-tax...

The effect of personal property tax repeal on Pennsylvania's real estate tax growth and stability.
March 1, 2003... The tax repeal decision often centers around the revenue adequacy of other revenue sources. The intangible personal property tax has been optional for Pennsylvania county governments since 1978. By 1992, 27 of Pennsylvania's 66 counties had...

Fiscal federalism and welfare policy: the role of states in the growth of child SSI.
March 1, 2003... This paper explores the expansion of the Supplemental Security Income (SSI) disability program for children in the early 1990s. After a Supreme Court mandated liberalization of the SSI disability standard in 1990 and a revision that same year...

Confidence intervals for the Suits Index.
March 1, 2003... The Suits Index is often used in tax policy analysis to measure the degree of progressivity of a tax, or to analyze changes in progressivity under alternative tax regimes. Suits (1977) developed the index by adapting the method of estimating a...

Environmental regulatory competition: a status report and some new evidence.
March 1, 2003... INTRODUCTION Whether environmental regulations are better set centrally or locally is a subject of debate both in the U.S., which in recent years has devolved some environmental authority from the federal government to the States, and in...

Letting States do the dirty work: state responsibility for federal environmental regulation.
March 1, 2003... INTRODUCTION Although major environmental regulation in the United States derives from federal statutes, states conduct most of the day-to-day business of implementing, monitoring, and enforcing regulation. The federal government...

Solving environmental problems with regional decision-making: a case study of ground-level ozone.
March 1, 2003... INTRODUCTION Setting environmental standards that ,avoid the potential inefficiencies of "one size fits all uniform federal standards--but prevent states from ignoring their contributions to downwind, or downstream, problems--is a...