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Trends in the Sources of Permanent and Temporary Book-Tax Differences During the Schedule M-3 Era

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  • Fabio B. Gaertner
  • Stacie K. Laplante
  • Daniel P. Lynch

Abstract

We use aggregate Schedule M-3 tax return data from Subchapter C corporations to provide descriptive evidence on book-tax differences from 2004 to 2013. Across the sample period, our primary findings are: (1) total book-tax differences increase, (2) a substantial amount of book-tax differences are explained by firms’ operations and financing, as well as economic incentives, (3) firms report a substantial but decreasing amount of book-tax differences in the “other” categories, (4) the frequency and magnitude of reportable transactions decreases significantly, and (5) foreign earnings and repatriations increase. However, the relative amount of foreign earnings repatriated decreases substantially after 2009.

Suggested Citation

  • Fabio B. Gaertner & Stacie K. Laplante & Daniel P. Lynch, 2016. "Trends in the Sources of Permanent and Temporary Book-Tax Differences During the Schedule M-3 Era," National Tax Journal, National Tax Association;National Tax Journal, vol. 69(4), pages 785-808, December.
    • Handle: RePEc:ntj:journl:v:69:y:2016:i:4:p:785-808
    DOI: 10.17310/ntj.2016.4.03
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    Cited by:

    1. Lampenius, Niklas & Shevlin, Terry & Stenzel, Arthur, 2021. "Measuring corporate tax rate and tax base avoidance of U.S. Domestic and U.S. multinational firms," Journal of Accounting and Economics, Elsevier, vol. 72(1).
    2. Abdul Wahab, Nor Shaipah & Ntim, Collins G. & Tye, Wei Ling & Shakil, Mohammad Hassan, 2022. "Book-tax differences and risk: Does shareholder activism matter?," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 48(C).
    3. Drake, Katharine D. & Hamilton, Russ & Lusch, Stephen J., 2020. "Are declining effective tax rates indicative of tax avoidance? Insight from effective tax rate reconciliations," Journal of Accounting and Economics, Elsevier, vol. 70(1).

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