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"Home Sweet Home" versus International Tax Planning: Where Do Multinational Firms Hold their U.S. Trademarks?

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  • Jost H. Heckemeyer
  • Pia Olligs
  • Michael Overesch

Abstract

This study analyzes whether tax incentives affect the geographical allocation of U.S. trademark rights within large multinational enterprises. Considering the S&P 500 firms, we find a strong home country concentration of U.S. trademark ownership. Our results suggest that offshore ownership of trademarks is mainly motivated by foreign activities rather than tax considerations. An analysis of the location choice reveals a significant negative impact of host-country taxes but only if controlled-foreign-company legislation does not apply. Companies active in industries that are known for producing mobile income tend to hold more trademarks offshore. In particular, trademarks of software firms and drugmakers are overrepresented in tax havens. European multinationals share similar location preferences.

Suggested Citation

  • Jost H. Heckemeyer & Pia Olligs & Michael Overesch, 2018. ""Home Sweet Home" versus International Tax Planning: Where Do Multinational Firms Hold their U.S. Trademarks?," National Tax Journal, National Tax Association;National Tax Journal, vol. 71(3), pages 485-520, September.
    • Handle: RePEc:ntj:journl:v:71:y:2018:i:3:p:485-520
    DOI: 10.17310/ntj.2018.3.03
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    Cited by:

    1. Martina Baumann & Tobias Boehm & Bodo Knoll & Nadine Riedel, 2020. "Corporate Taxes, Patent Shifting, and Anti-avoidance Rules: Empirical Evidence," Public Finance Review, , vol. 48(4), pages 467-504, July.
    2. Bodo Knoll & Nadine Riedel, 2020. "Patent Shifing and Anti-Tax Avoidance Legislation," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 17(04), pages 25-29, January.
    3. Olbert, Marcel & Spengel, Christoph, 2019. "Taxation in the digital economy: Recent policy developments and the question of value creation," ZEW Discussion Papers 19-010, ZEW - Leibniz Centre for European Economic Research.

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