Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/25830 
Year of Publication: 
2006
Series/Report no.: 
CESifo Working Paper No. 1785
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
The relative constancy of nonfinancial corporate tax revenues as a share of U.S. GDP masks offsetting trends in the ratio of corporate profits to GDP (declining) and the average tax rate (increasing). The average tax rate rose steadily between 1996 and 2003, an increase largely attributable to the importance of tax losses. This rise casts some doubt on the role of tax planning activities in reducing corporate taxes. So, too, does the relative stability of the rate of profit (relative to net assets), which might be expected to have declined had the understatement of profits for tax purposes been increasing.
JEL: 
H25
G32
Document Type: 
Working Paper
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