NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Conor J. Clarke

Yale Law School
127 Wall Street
New Haven, CT 06511
conor.clarke@yale.edu

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org

NBER Working Papers and Publications

October 2016Business Income and Business Taxation in the United States Since the 1950s
with Wojciech Kopczuk: w22778
In theory, the U.S. tax system aims to attribute and tax all business income to individuals. But the tax treatment of this income varies. Pass-through income is taxed when earned; capital-gains income is taxed when realized; dividends when distributed; other forms of business income may escape taxation entirely. Business owners often have control over the timing and character of their income: They can often choose, for example, between reporting business income or deducting it as wages or fringe benefits. And laws change, changing the incentive and ability to shift income between the individual and corporate sectors. We integrate a wide variety of tax data to document the large long-run changes in the structure of business income and business taxation in the United States. These changes in...

Published: Business Income and Business Taxation in the United States since the 1950s, Conor Clarke, Wojciech Kopczuk. in Tax Policy and the Economy, Volume 31, Moffitt. 2017

Business Income and Business Taxation in the United States since the 1950s
with Wojciech Kopczuk
in Tax Policy and the Economy, Volume 31, Robert A. Moffitt, editor
In theory, the U.S. tax system aims to attribute and tax all business income to individuals. But the tax treatment of this income varies. Pass-through income is taxed when earned; capital-gains income is taxed when realized; dividends when distributed; other forms of business income may escape taxation entirely. Business owners often have control over the timing and character of their income: They can often choose, for example, between reporting business income or deducting it as wages or fringe benefits. And laws change, changing the incentive and ability to shift income between the individual and corporate sectors. We integrate a wide variety of tax data to document the large long-run changes in the structure of business income and business taxation in the United States. These changes in...
 
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