Reconciling Global Financial Reporting With Domestic Taxation

Caitlin Bokulic, Erin Henry and George A. Plesko

National Tax Journal, 2012, vol. 65, issue 4, 933-59

Abstract: This paper presents a new reconciliation of financial to taxable income, drawing from public financial statement and Schedule M-3 data for a panel of firms. The reconciliation compares the financial statement income of a firm’s consolidated financial statement entities to the financial statement income of a firm’s tax return entities on a worldwide, domestic, and foreign income basis. This analysis highlights the relation between these various measures of corporate income to better understand the magnitudes of, and differences between, domestic and global corporate income.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ntj:journl:v:65:y:2012:i:4:p:933-59

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