Barriers To Mobility: The Lockout Effect Of U.S. Taxation Of Worldwide Corporate Profits
AbstractUsing data from a survey of tax executives, we examine the corporate response to the one-time dividends received deduction in the American Jobs Creation Act of 2004. We describe the firms’ reported sources and uses of the cash repatriated and we also examine non-tax costs companies incurred to avoid the repatriation tax prior to the Act. Finally, we examine whether firms would repatriate cash again if a similar Act were to occur in the future. Overall, the evidence is consistent with a substantial lockout effect resulting from the current U.S. policy of taxing the worldwide profits of U.S. multinationals.
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Bibliographic InfoArticle provided by National Tax Association in its journal National Tax Journal.
Volume (Year): 63 (2010)
Issue (Month): 4 (December)
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- John Graham & Jana Raedy & Douglas Shackelford, 2010.
"Research in Accounting for Income Taxes,"
NBER Working Papers
15665, National Bureau of Economic Research, Inc.
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