CBIT 2.0 -- Executive Summary

7 Pages Posted: 11 Jul 2013 Last revised: 5 Sep 2013

See all articles by David Hasen

David Hasen

University of Florida Levin College of Law

Date Written: July 10, 2013

Abstract

This short paper provides a summary of a Special Report on a modified version of the comprehensive business income tax, or CBIT, scheduled to appear in Tax Notes on August 26, 2013. The Special Report advocates adoption of a CBIT similar to the one Treasury proposed in 1992. The main difference is the proposed addition of a tax on distributions to high-bracket taxpayers, together with the availability of a deduction against the distribution tax for amounts promptly reinvested. The net effect is consumption tax treatment of the tax, if any, on distributions.

Keywords: taxation

JEL Classification: H2, H25, K34

Suggested Citation

Hasen, David, CBIT 2.0 -- Executive Summary (July 10, 2013). Santa Clara Univ. Legal Studies Research Paper No. 25-13, Available at SSRN: https://ssrn.com/abstract=2292232 or http://dx.doi.org/10.2139/ssrn.2292232

David Hasen (Contact Author)

University of Florida Levin College of Law ( email )

P.O. Box 117625
Gainesville, FL 32611-7625
United States

HOME PAGE: http://https://www.law.ufl.edu/faculty/david-hasen

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