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| Author: | Enis, C. R. Ke, B. |
| Title: | The Impact of the 1986 Tax Reform Act on Income Shifting from Corporate to Shareholder Tax Bases: Evidence from the Motor Carrier Industry |
| Journal: | Journal of Accounting Research
2003 : MAR, VOL. 41:1, p. 65-88 |
| Index terms: | COMPANIES TAX REFORM SHAREHOLDERS MOTOR VEHICLES INDUSTRY |
| Language: | eng |
| Abstract: | Using a sample of privately held Ñ corporations and S corporations from the motor carrier industry during 1984- 92, the authors assess the effect of the 1986 Tax Reform Act on the amount of corporate income shareholders of privately held Ñ corporations shifted to their personal tax bases. The authors estimate that the Ñ corporations shifted a mean of $130,587 taxable income each year to shareholders (representing 29% of their mean accounting earnings before income shifting) after the 1986 tax law change. The Ñ corporations used deductible managerial compensation and rent expense, but not interest expense, to shift income to shareholders. |
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