499 research outputs found
Transferable tax credits in Missouri: an analytical review
No full textIn 2005, Missouri had 53 legally authorized tax credit programs. In this paper, the authors assemble basic information on all of these programs and further analyze the six largest (by tax credits issued) that include freely transferable credits. Their analysis focuses on the institutional features of these programs, the kinds of market failures or disparities they may address, and whether the design of each program is consistent with its economic rationale. The authors also consider whether the evaluation of each program by the state is consistent with its economic rationale. They conclude with a brief discussion of the transactions prices for the credits on which they have data and whether making the tax credits refundable as well as transferable could reduce the transactions costs associated with these programs.Tax credits ; Economic development ; Missouri
Market Arbitrage of Cash Dividends and Franking Credits
No full textSince 1986 dividend imputation has influenced the ex-dividend day behaviour of Australian share prices. Between 1 April 1986 and 30 May 2004 the Government of the day introduced six major legislative amendments intent on improving the efficiency of the dividend imputation system. This paper explores the impact of dividend imputation, in its various forms, on ex-dividend share price adjustments. We find that only the most recent tax change, which provided full income rebates for unused franking credits, appears to have caused the market to put a statistically significant value on franking credits.Dividend imputation, cash dividends, franking credits, drop-off ratio, tax legislation, structural breaks.
Factors that affect short-term commercial bank lending to developing countries
No full textDeveloping countries rely on short-term trade credits for imports of several essential consumer goods, including medicines and basic food supplies. The credits also facilitate export-related transactions. The mechanisms commercial banks use to provide trade credits to developing countries are complex and costly. Even a temporary break in the flow of short-term credit can seriously hurt a country's business. But since short-term trade credits can be structured so that they involve a few risks to a bank and at the same time are very costly to the debtor, they are generally the last forms of credit to be cut and the first to be reestablished in debt-distressed developing countries. To gauge the likelihood of continued short-term trade related financial flows to developing countries, the authors examined the factors that affect short-term commercial bank loans. They studied relevant data over time for seven countries for which data were available: Argentina, Brazil, Egypt,India, Kenya, Mexico, and Turkey. They found that : a) countries with greater growth prospects get more short-term credit; b) short-term credits are usually meant to finance countries with significant trade deficits; c) higher levels of external indebtedness are generally coupled with higher levels of short-term indebtedness to commercial banks; and d) country-specific factors affect the volume of short-term lending to a country.Financial Intermediation,Banks&Banking Reform,Economic Theory&Research,Strategic Debt Management,Financial Crisis Management&Restructuring
Tax Credit Evaluation Study: Iowa’s Biofuel Retailers’ Tax Credits, February 2009
No full textDuring the 2005 Legislative Session the Iowa Department of Revenue received an appropriation to establish the Tax Credits Tracking and Analysis Program (TCTAP) to track tax credit awards and claims. In addition, the Department was directed to perform periodic evaluations of tax credit programs. The purpose of these studies is three-fold: (1) To provide a comparison of the Iowa tax credit program to similar federal and other states’ programs (2) To summarize information related to the usage of the Iowa tax credit (3) To evaluate the economic impact of the tax credit program
Tax Incentives for Affordable Housing: The Low Income Housing Tax Credit
No full textThe Low Income Housing Tax Credit (LIHTC) represents a novel tax expenditure program that employs “investable” tax credits to spur production of low-income rental housing. While it has grown into the largest source of new affordable housing in the U.S. and its structure is now being replicated in other programs, the LIHTC has also drawn skepticism and calls for its repeal. We provide estimates of tax expenditures under this program and discuss pricing, efficiency, and distributional effects of the program. We also consider the impacts of the recent financial crisis on the LIHTC program and explore implications of resulting policy changes and proposals.
Recommended from our members
Readers' Credits for Volume 20, Issue 1
No full textStudies in Applied Linguistics & TESOL (SALT) would like to thank the following individuals for reviewing the contributions for Volume 20, Issue 1 (2020
Readers' Credits for Volume 20, Issue 2
No full textStudies in Applied Linguistics & TESOL (SALT) would like to thank the following individuals for reviewing the contributions for Volume 20, Issue 2 (2020
Recommended from our members
Readers' Credits for Volume 20, Issue 2
No full textStudies in Applied Linguistics & TESOL (SALT) would like to thank the following individuals for reviewing the contributions for Volume 20, Issue 2 (2020
Readers' Credits for Volume 20, Issue 1
No full textStudies in Applied Linguistics & TESOL (SALT) would like to thank the following individuals for reviewing the contributions for Volume 20, Issue 1 (2020
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