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The Impact Of The Undistributed Prolits Tax 1936 1937
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Book Synopsis The impact of the undistributed profits tax by : George E. Lent
Download or read book The impact of the undistributed profits tax written by George E. Lent and published by . This book was released on 1968 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of the Undistributed Profits Tax, 1936-1937 by : George Eidt Lent
Download or read book The Impact of the Undistributed Profits Tax, 1936-1937 written by George Eidt Lent and published by . This book was released on 1968 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of the Undistributed Profits Tax, 1936-1937, by George E. Lent,... by : George Eidt Lent
Download or read book The Impact of the Undistributed Profits Tax, 1936-1937, by George E. Lent,... written by George Eidt Lent and published by . This book was released on 1948 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of the Undistributed Profits Tax, 1936-1937 by : George Eidt Lent
Download or read book The Impact of the Undistributed Profits Tax, 1936-1937 written by George Eidt Lent and published by . This book was released on 1948 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Some Effects of the Undistributed Profits Tax of 1936 on Corporations by : Frederick Bohlen Fiigon
Download or read book Some Effects of the Undistributed Profits Tax of 1936 on Corporations written by Frederick Bohlen Fiigon and published by . This book was released on 1940 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economic Effects of the Undistributed Profits Tax of 1936 by : John Alexander Bryson
Download or read book The Economic Effects of the Undistributed Profits Tax of 1936 written by John Alexander Bryson and published by . This book was released on 1946 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Internal finance and investment by : National Bureau of Economic Research
Download or read book Internal finance and investment written by National Bureau of Economic Research and published by . This book was released on 1993 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of the Undistributed Prolits Tax 1936-1937 by : George E. Lent
Download or read book The Impact of the Undistributed Prolits Tax 1936-1937 written by George E. Lent and published by . This book was released on 1948 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :George Eidt Lent Publisher :Studies in History, Economics, and Public Law, 539 ISBN 13 : Total Pages :222 pages Book Rating :4.:/5 (6 download)
Book Synopsis The Impact of the Undistributed Profits Tax, 1936-1937 by : George Eidt Lent
Download or read book The Impact of the Undistributed Profits Tax, 1936-1937 written by George Eidt Lent and published by Studies in History, Economics, and Public Law, 539. This book was released on 1948 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the undistributed profits tax enacted in 1936 and repealed in 1938. Looks at its effects and drawbacks to provide a more informed approach to the integration of the tax system of the early 1900's.
Book Synopsis The Economic Effects of the Undistributed Profits Tax of 1936 by : John Alexander Bryson
Download or read book The Economic Effects of the Undistributed Profits Tax of 1936 written by John Alexander Bryson and published by . This book was released on 1942 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Payouts and the Tax Price of Corporate Retentions by : R. Glenn Hubbard
Download or read book Corporate Payouts and the Tax Price of Corporate Retentions written by R. Glenn Hubbard and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many provisions of the U.S. tax code affect corporate decisions to pay out or retain earnings. Most studies of these effects have examined the effects of dividend and capital gains taxes on payouts. Relatively few studies have considered the effects of corporate taxes on retentions. In the early 1900s, the United States experimented with several corporate taxes on retentions. These taxes increased the price of corporate retentions, thereby encouraging corporate payouts. This paper studies the response of corporations to the most significant of these experiments the Undistributed Profits Tax of 1936-1938. While the U.S. no longer directly taxes corporate retentions, our study provides empirical results relevant to two recent policy debates. First, to the extent that corporate payouts did respond significantly to a change in the corporate price of retentions, we can learn more about the implicit prices corporations place on internal funds. These estimates enable us better understand the effects of government policies designed to encourage corporate reinvestment. Second, our study provides evidence relevant to several recent proposals designed to resolve managerial agency problems. These proposals require managers to payout their "free" cash flows as a way of committing not to waste financial capital. The Undistributed Profits Tax of 1936-1938 had a similar goal. Its maximum marginal tax rate of 27 percent on corporate retentions gave managers strong incentives to pay out retained earnings. We study the effects of the Undistributed Profits Tax on corporate payouts using a panel data set on 26 large petroleum companies. These data have a number of advantages, not the least of which is the relative homogeneity of petroleum firms' investment opportunities. We find that on average corporate payout policies did respond significantly to the surtax in 1936, the first year of the tax. There was much less of a response in 1937, and practically none in the last year, 1938. The smaller payouts in 1937 and 1938 suggest that managers were able to find margins other than dividends through which they could reduce their tax burden. These other margins included the short-term manipulation of expenses and delays in recognizing revenues. These responses suggest that managers place a relatively high valuation on internal versus external funds. They also suggest that proposals that would require managers to payout free cash flows must resolve an important incentive problem -- how to get managers to reveal fully what cash flows are "free." Finally, our results document the importance of recognizing behavioral responses to taxes. That is, firms may respond to changes in relative tax prices by finding other margins by which they can reduce their tax burdens.
Book Synopsis Income Tax - Revenue Act of 1936 by : United States. Office of Internal Revenue
Download or read book Income Tax - Revenue Act of 1936 written by United States. Office of Internal Revenue and published by . This book was released on 1936 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Revenue Act of 1936, with Special Refrence to the Undistributed Profits Tax by : Elizabeth Cecilia Demarest
Download or read book The Revenue Act of 1936, with Special Refrence to the Undistributed Profits Tax written by Elizabeth Cecilia Demarest and published by . This book was released on 1937 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Undistributed Profits Tax and Its Effect on American Business by : Max B. Meyer
Download or read book The Undistributed Profits Tax and Its Effect on American Business written by Max B. Meyer and published by . This book was released on 1938 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of the Undistributed Profits Tax on Financial Policy by : Gray Jensvold
Download or read book The Effects of the Undistributed Profits Tax on Financial Policy written by Gray Jensvold and published by . This book was released on 1937 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Taxation of Corporate Surplus Accumulations by : James Kendall Hall
Download or read book The Taxation of Corporate Surplus Accumulations written by James Kendall Hall and published by . This book was released on 1952 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Limits of Symbolic Reform by : Mark H. Leff
Download or read book The Limits of Symbolic Reform written by Mark H. Leff and published by Cambridge University Press. This book was released on 1984 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mark Leff examines the gap between politics and economics, between symbol and substance in the New Deal.