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Reconciling Global Financial Reporting With Domestic Taxation

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  • Bokulic, Caitlin
  • Henry, Erin
  • Plesko, George A.

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.

Suggested Citation

  • Bokulic, Caitlin & Henry, Erin & Plesko, George A., 2012. "Reconciling Global Financial Reporting With Domestic Taxation," National Tax Journal, National Tax Association, vol. 65(4), pages 933-959, December.
  • Handle: RePEc:ntj:journl:v:65:y:2012:i:4:p:933-59
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    References listed on IDEAS

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    1. Mills, Lillian F. & Plesko, George A., 2003. "Bridging the Reporting Gap: A Proposal for More Informative Reconciling of Book and Tax Income," National Tax Journal, National Tax Association, vol. 56(4), pages 865-893, December.
    2. Plesko, George A., 2003. "An evaluation of alternative measures of corporate tax rates," Journal of Accounting and Economics, Elsevier, vol. 35(2), pages 201-226, June.
    3. Plesko, George A., 2004. "Corporate Tax Avoidance and the Properties of Corporate Earnings," National Tax Journal, National Tax Association, vol. 57(3), pages 729-737, September.
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