Notes on corporate concentration and Canada's income tax / by Michael C. Wolfson. : CS11-0019/8E-PDF

"This study explores the relationship between the corporate income tax and tendencies toward corporate concentration. The study is in two parts. The first considers tax provisions relating directly to mergers and takeovers such as interest deductibility and capital gains rollovers. The discussions, of necessity, relies only on anecdotal evidence and concludes that the popular concerns about the bias of these provisions may be overstated. The second and larger part of the study draws on detailed sample of 20,000 corporate income tax returns for 1983. This empirical analysis looks at the effective average rate of taxes paid, net of government transfers received. The principal finding is that effective federal corporate income tax rates first increase in relation to the size of the corporation from 9.7% in the smallest size range to 17.1% in the middle size ranges ($10 to 25 millions in assets net of intercorporate holdings), and then decline. Corporations with over $100 million in net assets had a lower average tax rate at 9.6% than those in the smallest size range. The overall average rate was 11.5% for federal, and 16.8% for federal plus provincial income taxes."--Abstract.

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