Report of the Department of the Treasury on integration of the individual and corporate tax systems

taxing business income once.

by United States. Dept. of the Treasury.

1992 268 pages eng

The so-called classical system of current U.S. tax law treats corporations and their investors as separate entities and levies tax at both the corporate and shareholder levels on earnings from investments in corporate equity. Corporate earnings distributed to lenders as interest are generally deduct…