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Trends in Corporate Economic Profits and Tax Payments, 1998 to 2017

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  • Congressional Budget Office

Abstract

Over recent decades, corporate economic profits—that is, profits from current production—have grown faster than the amounts that corporations pay in federal taxes. That pattern, which cannot be explained by changes in statutory tax rates, reflects a divergence between economic profits and the corporate tax base. Because such differences affect how CBO projects revenues from the corporate income tax, the agency has analyzed the relationship between the two measures.

Suggested Citation

  • Congressional Budget Office, 2023. "Trends in Corporate Economic Profits and Tax Payments, 1998 to 2017," Reports 58267, Congressional Budget Office.
    • Handle: RePEc:cbo:report:58267
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    File URL: https://www.cbo.gov/system/files/2023-05/58267-Profits-Tax-Payments.pdf
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    More about this item

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm

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