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Tax Policy Center

Research & Commentary

Brief
Business Taxes

What are the Largest Business Tax Expenditures?

In this brief, we list the 10 major business tax expenditures with the largest revenue losses, as defined by the Office of Tax Analysis (OTA) of the US Treasury Department and the Congressional Joint Committee on Taxation (JCT). We provide a brief description of each provision and briefly...

July 17, 2019
Frank SammartinoEric Toder
Testimony
Individual Taxes

Reflections on the Tax Cuts and Jobs Act

Mark Mazur, Director of the Urban-Brookings Tax Policy Center, testified before the Joint Economic Committee during a hearing entitled “Unleashing America’s Economic Potential.” In his testimony, Mazur presented a review of the principles of desirable tax policy, clear and less clear findings...

April 11, 2018
Mark J. Mazur
Brief
Business Taxes

Navigating the New Pass-Through Provisions: A Technical Explanation

The Tax Cuts and Jobs Act of 2017 allows owners of certain pass-through businesses (such as sole proprietorships, partnerships, and S corporations) to take a new deduction. However, the structure of the deduction is complicated because its generosity depends on many factors, such as the nature...

January 31, 2018
William G. GaleAaron Krupkin
Research report
Business Taxes

Neutral Tax Reform with 15 Percent Business Income Tax Rate

The Trump administration has announced the broad outlines of a tax reform plan that contains many provisions similar to those in the House GOP tax reform “blueprint” announced last year, but there are fundamental differences in the provisions affecting businesses and investors. While different,...

August 22, 2017
James R. Nunns
Brief
Business Taxes

Options to Reduce the Taxation of Pass­‐through Income

The Trump administration and House Republicans are developing proposals that would reduce the individual income tax rate on income earned through...

May 16, 2017
Jeffrey RohalyJoseph RosenbergEric Toder
Brief
Business Taxes

9 Facts About Pass-Through Businesses

To help understand the policy considerations surrounding the taxation of pass-through businesses and the implications of potential reforms, here are nine facts about pass-throughs and the current U.S. approach to taxing business.

May 15, 2017
Adam LooneyAaron Krupkin
Research report
Business Taxes

Is a Territorial Tax System Viable for the United States?

Territorial tax systems require clear rules to distinguish between taxable domestic and exempt foreign-source income. Defining the source of a multinational company’s profits is difficult, however, especially for profits that are attributable to intangible assets. Shifting of reported profits to...

March 28, 2017
Eric Toder
Brief
Business Taxes

Taxation of Pass-Through Businesses

This year, Congress will consider what may be the biggest tax bill in decades. This is one of a series of briefs the Tax Policy Center has prepared to help people follow the debate. Each focuses on a key tax policy issue that Congress and the Trump administration may address. This brief...

January 30, 2017
Frank Sammartino
Journal Article
Business Taxes

Filling the Gap: Pass Through Businesses and Tax Reform

Eric Toder describes the tax advantages pass-through businesses face in this article published by the Milken Institute Review.

January 3, 2017
Eric Toder
Research report
Business Taxes

Goldilocks Meets Private Equity: Taxing Carried Interest Just Right

Controversy rages about how to tax carried interest. One view sees carry as compensation that should be taxed like other labor income. Another sees carry as a reward for financial risk-taking that should be taxed like capital income. A third sees carry as creating a costly tax arbitrage. In this...

October 6, 2016
Donald Marron

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