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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Twenty-five Years of Effective US and Foreign Tax Rates for Large and Small Firms and their Effect on EPS
Author(s): Daniel Folkinshteyn, George Romeo
Citation: Daniel Folkinshteyn, George Romeo, (2017) "Twenty-five Years of Effective US and Foreign Tax Rates for Large and Small Firms and their Effect on EPS ," Journal of Applied Business and Economics, Vol. 19, Iss.10, pp. 120-135
Article Type: Research paper
Publisher: North American Business Press
Abstract:
Corporate tax law reform continues to be an important topic in the political arena, especially with the US
having one of the highest marginal tax rates in the world. This paper examines twenty-five years of
effective US and foreign tax rates for both large and small firms from 1990 to 2015. One of our major
findings is that the effective tax burden on most US corporations is not nearly as heavy as the statutory
law suggests. Our results suggest that future tax policy should consider both effective US tax rates and
statutory tax rates when implementing new corporate tax laws.
