Cash-flow taxation of financial services.(Fundamental Tax Reform: Possibilities and Problems): An article from: National Tax Journal

This digital document is an article from National Tax Journal, published by National Tax Association on September 1, 1996. The length of the article is 6519 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the author: Introduction of a consumption-based tax in the United States will require finding a method for taxing financial intermediation services. This paper describes the "cash-flow" method of taxation and its application to financial services companies. The cashflow method is used to tax certain financial companies in the Unlimited Savings Allowance (USA) bill introduced by Senators Nunn and Domenici. Tax liability estimates under the USA cashflow tax are presented for a sample of banks, insurance companies, and securities brokers. These results indicate that the financial sector would likely enjoy a substantial tax cut under the USA tax.

Citation Details
Title: Cash-flow taxation of financial services.(Fundamental Tax Reform: Possibilities and Problems)
Author: Peter R. Merrill
Publication:National Tax Journal (Refereed)
Date: September 1, 1996
Publisher: National Tax Association
Volume: 49 Issue: n3 Page: 487-500

Distributed by Thomson Gale