Reexamining the Federal Corporation Income Tax
Project Note No. 42
This is the third in a series of studies reviewing major areas of Federal taxation. The first, Federal Excise Taxes, was published in 1956 and the second, Are High Surtax Rates Worthwhile, in 1959.
The purpose of this study is to examine the major issues involved in recent proposals for modification of the corporate rate structure, and to consider whether these changes are desirable.
Questions of tax policy and structure have particular significance at this time because new demands for defense spending for missiles and other weapons virtually insure that Federal expenditures will, remain at high levels indefinitely. This makes it essential that our tax system be designed for the long term, with the least possible weakening effect on our national economy.
Chapter I of this study backgrounds the present corporate income tax situation and summarizes the conclusions. Evidence for the conclusions is laid out in Chapter II, which deals in detail with the issues involved in recent proposals, and in Chapter III, which coven the issue of rate revision versus a general reduction in the corporation tax.
This study was prepared by the Research Department of Tax Foundation. In charge of this project was George A. Bishop, Senior Researcher.
Was this page helpful to you?
The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work?Contribute to the Tax Foundation
Let us know how we can better serve you!
We work hard to make our analysis as useful as possible. Would you consider telling us more about how we can do better?Give Us Feedback