Capital gains taxation and tax avoidance: new evidence from panel data
Previous theoretical analyses of the capital gains tax have suggested that investors have considerable opportunity to avoid the tax. Yet, past empirical work has found relatively little evidence of such activity. Using a previously unavailable panel data set with a very large sample of high-income i...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
1998
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| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
6399 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Previous theoretical analyses of the capital gains tax have suggested that investors have considerable opportunity to avoid the tax. Yet, past empirical work has found relatively little evidence of such activity. Using a previously unavailable panel data set with a very large sample of high-income individuals, this paper aims to bring the theory and evidence closer together by examining the behavior of individual taxpayers over time. Though confirming past findings that avoidance of tax on realized capital gains is not prevalent, we do observe that tax avoidance activity increased after the passage of the Tax Reform Act of 1986, and that high-income, high-wealth and more sophisticated taxpayers were most likely to avoid tax. However, the efficacy of tax avoidance strategies depends on being able to avoid tax for long periods, and we find that most tax avoidance is of relatively short duration. Thus, the effective tax rate on realized capital gains is very close to the statutory rate in all years and tax brackets. |
| Beschreibung: | 38 S. graph. Darst. |
Internformat
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| id | DE-604.BV011932748 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:18:45Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-008065901 |
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| physical | 38 S. graph. Darst. |
| publishDate | 1998 |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Auerbach, Alan J. 1951- Verfasser (DE-588)124566537 aut Capital gains taxation and tax avoidance new evidence from panel data Alan J. Auerbach ; Leonard E. Burman ; Jonathan M. Siegel Cambridge, Mass. 1998 38 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6399 Previous theoretical analyses of the capital gains tax have suggested that investors have considerable opportunity to avoid the tax. Yet, past empirical work has found relatively little evidence of such activity. Using a previously unavailable panel data set with a very large sample of high-income individuals, this paper aims to bring the theory and evidence closer together by examining the behavior of individual taxpayers over time. Though confirming past findings that avoidance of tax on realized capital gains is not prevalent, we do observe that tax avoidance activity increased after the passage of the Tax Reform Act of 1986, and that high-income, high-wealth and more sophisticated taxpayers were most likely to avoid tax. However, the efficacy of tax avoidance strategies depends on being able to avoid tax for long periods, and we find that most tax avoidance is of relatively short duration. Thus, the effective tax rate on realized capital gains is very close to the statutory rate in all years and tax brackets. Impôt sur les gains en capital - États-Unis - Modèles économétriques ram Évasion fiscale - États-Unis - Modèles économétriques ram Ökonometrisches Modell Capital gains tax United States Econometric models Tax planning United States Econometric models USA Burman, Leonard E. Verfasser aut Siegel, Jonathan M. Verfasser aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6399 (DE-604)BV002801238 6399 http://papers.nber.org/papers/w6399.pdf kostenfrei Volltext |
| spellingShingle | Auerbach, Alan J. 1951- Burman, Leonard E. Siegel, Jonathan M. Capital gains taxation and tax avoidance new evidence from panel data National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Impôt sur les gains en capital - États-Unis - Modèles économétriques ram Évasion fiscale - États-Unis - Modèles économétriques ram Ökonometrisches Modell Capital gains tax United States Econometric models Tax planning United States Econometric models |
| title | Capital gains taxation and tax avoidance new evidence from panel data |
| title_auth | Capital gains taxation and tax avoidance new evidence from panel data |
| title_exact_search | Capital gains taxation and tax avoidance new evidence from panel data |
| title_full | Capital gains taxation and tax avoidance new evidence from panel data Alan J. Auerbach ; Leonard E. Burman ; Jonathan M. Siegel |
| title_fullStr | Capital gains taxation and tax avoidance new evidence from panel data Alan J. Auerbach ; Leonard E. Burman ; Jonathan M. Siegel |
| title_full_unstemmed | Capital gains taxation and tax avoidance new evidence from panel data Alan J. Auerbach ; Leonard E. Burman ; Jonathan M. Siegel |
| title_short | Capital gains taxation and tax avoidance |
| title_sort | capital gains taxation and tax avoidance new evidence from panel data |
| title_sub | new evidence from panel data |
| topic | Impôt sur les gains en capital - États-Unis - Modèles économétriques ram Évasion fiscale - États-Unis - Modèles économétriques ram Ökonometrisches Modell Capital gains tax United States Econometric models Tax planning United States Econometric models |
| topic_facet | Impôt sur les gains en capital - États-Unis - Modèles économétriques Évasion fiscale - États-Unis - Modèles économétriques Ökonometrisches Modell Capital gains tax United States Econometric models Tax planning United States Econometric models USA |
| url | http://papers.nber.org/papers/w6399.pdf |
| volume_link | (DE-604)BV002801238 |
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