Abstract

http://ssrn.com/abstract=691388
 
 

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The Story of the Separate Corporate Income Tax: A Vehicle for Regulating Corporate Managers


Reuven S. Avi-Yonah


University of Michigan Law School


BUSINESS TAX STORIES, Foundation Press, 2005

Abstract:     
This chapter examines the origins of the current corporate tax in the Corporate Excise Tax Act of 1909. It argues that unlike the 1894 version of the corporate tax, which was aimed primarily at taxing wealthy shareholders, the 1909 tax had a regulatory aim: It was intended to regulate and potentially limit the power of the great trusts, following the great merger and acquisition wave of 1890-1906. This regulatory function of the tax was achieved through both its publicity features (corporate tax returns were to be made public) and through the imposition of the tax itself, since proponents envisaged the possibility of differential taxation of desirable and undesirable forms of business enterprise.

This paper will be published as a chapter in a book entitled Business Tax Stories, to be published by Foundation Press later this year.

Accepted Paper Series


Not Available For Download

Date posted: March 23, 2005  

Suggested Citation

Avi-Yonah, Reuven S., The Story of the Separate Corporate Income Tax: A Vehicle for Regulating Corporate Managers. BUSINESS TAX STORIES, Foundation Press, 2005. Available at SSRN: http://ssrn.com/abstract=691388

Contact Information

Reuven S. Avi-Yonah (Contact Author)
University of Michigan Law School ( email )
625 South State Street
Ann Arbor, MI 48109-1215
United States
734-647-4033 (Phone)
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