The Kansas tax experiment: The matter of legal form of organization

被引：1

作者：

Qi, Shi ^{[1
]}

Schlagenhauf, Don ^{[2
]}

机构：

[1] William & Mary, Econ Dept, POB 8795, Williamsburg, VA 23187 USA

[2] Florida State Univ, Tallahassee, FL 32306 USA

来源：

JOURNAL OF ECONOMIC DYNAMICS & CONTROL | 2021年 / 133卷

关键词：

Legal form of organization; Business tax; Capital misallocation; CORPORATE-INCOME TAX; FINANCIAL INTERMEDIATION; ENTREPRENEURSHIP; MISALLOCATION; DISTORTIONS; CHOICE; IMPACT;

D O I：

10.1016/j.jedc.2021.104271

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using a dynamic stochastic occupational choice model with heterogeneous firms, this paper studies a sweeping business tax-cut program enacted in the State of Kansas during 2012-2016. This paper finds that "The Kansas Tax Experiment" distorts entrepreneurial choice of legal form of organization (LFO), and encourages the adoption of the passthrough status over the C-corporate legal form. Because pass-through businesses face more constraints on access-to-capital, the policy reduces aggregate productive efficiency and leads to declines in output, capital formation, and employment growth. This article highlights the importance of considering LFO choice when making a business tax policy change. (C) 2021 Elsevier B.V. All rights reserved.

引用

页数：22

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