Possible Implications of Integrating the Corporate and Individual Income Taxes in the United States

International Monetary Fund

No 1990/066, IMF Working Papers from International Monetary Fund

Abstract: The classical corporate profits tax in the United States involves non-neutralities between: different sources of financing; different forms of business organization; and retaining or distributing earnings and may result in the U.S. investor being at a disadvantage vis-à-vis foreign investors. An international comparison is provided, and the potential effects of different integration schemes on the user cost of capital and tax revenues are assessed. The integration of corporate and individual income taxes in the United States could lead to a more efficient domestic and worldwide allocation of resources.

Keywords: WP; interest payment; double taxation; tax treatment; dividend payment; retained earnings; rate of return; Corporate income tax; Capital gains tax; Interest payments; Income tax systems; Income and capital gains taxes; Global (search for similar items in EconPapers)
Pages: 64
Date: 1990-01-01
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