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Measuring Aggregate Business Income With Tax Data

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  • James Pearce

Abstract

Tax reform proposals, such as taxing all business entities in a similar manner under an entity level tax or moving to a cash-flow or valued-added consumption tax, require careful accounting so that estimates of the revenue impacts and distributional consequences are consistent across proposals. This paper constructs a broadly consistent measure of tax-based business income and details the correspondence between it and National Income and Product Accounts (NIPA) business income. The paper highlights the importance of addressing the double-counting of partnership income in tax data and the importance of investment income in explaining the differences between tax-based business income and NIPA business income.

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  • James Pearce, 2015. "Measuring Aggregate Business Income With Tax Data," National Tax Journal, National Tax Association;National Tax Journal, vol. 68(4), pages 1025-1046, December.
    • Handle: RePEc:ntj:journl:v:68:y:2015:i:4:p:1025-1046
    DOI: 10.17310/ntj.2015.4.06
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    File URL: https://doi.org/10.17310/ntj.2015.4.06
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    Cited by:

    1. Robert J. Barro & Jason Furman, 2018. "Macroeconomic Effects of the 2017 Tax Reform," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 49(1 (Spring), pages 257-345.
    2. repec:bin:bpeajo:v:49:y:2019:i:2018-01:p:257-345 is not listed on IDEAS

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