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The Character and Determinants of Corporate Capital Gains
This paper analyzes how corporate capital gains taxes affect the capital gain realization decisions of firms. The paper outlines the tax treatment of corporate capital gains, the consequent incentives for firms with gains and losses, the efficiency consequences of these taxes in the context of other taxes and capital market distortions, and the response of firms to these incentives. Despite receiving limited attention, corporate capital gain realizations have averaged 30 percent of individualdoi:10.3386/w10153 fatcat:z6yc6buxunddhgfaexzyqvwv4i