haku: @indexterm TAXATION / yhteensä: 1872
viite: 300 / 1872
| Tekijä: | Hodder, L. McAnally, M. L. Weaver, C. D. |
| Otsikko: | The Influence of Tax and Nontax Factors on Banks' Choice of Organizational Form |
| Lehti: | Accounting Review
2003 : JAN, VOL. 78:1, p. 297-326 |
| Asiasana: | ORGANIZATIONAL STRUCTURE COSTS TAXATION COMPANIES |
| Kieli: | eng |
| Tiivistelmä: | This paper identifies tax and nontax factors that influence commercial banks' conversion from taxable C- corporation to nontaxable S-corporation from 1997 to 1999, after a 1996 tax-law change allowed banks to convert to S-corporations for the first time. The authors find that banks are more likely to convert when conversion saves dividend taxes, avoids alternative minimum taxes, and minimizes state income taxes. Banks are less likely to convert when conversion restricts access to equity capital, nullifies corporate tax loss carry forwards, and creates potential penalty taxes on unrealized gains existing at the conversion date. The authors also investigate the strategic choices banks make before converting to S-corporations. |
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