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To What Extent Do Religious Institutions Provide A Societal Value? Is The Tax-Exempt Status Justified?, Annabel Hou
To What Extent Do Religious Institutions Provide A Societal Value? Is The Tax-Exempt Status Justified?, Annabel Hou
Scripps Senior Theses
Religious institutions have been tax-exempt from almost all taxes for more than two centuries. The two primary justifications used to protect this ‘status’ is the constitution and the concept that churches provide positive externalities that believers and non-believers all benefit from. This paper examines the relationship between religiosity and five socially important characteristics: high school graduation rate, a divorce rate, incidence of domestic violence, and levels of substance abuse and crime. I run multiple simple and full regressions across 207 counties in Texas. In four of the five analyses, religiosity has a strong statistically significant desirable impact. With the addition …
The Transition Tax: Why It Was Created And How It Could Be Altered, Ryan Motter
The Transition Tax: Why It Was Created And How It Could Be Altered, Ryan Motter
CMC Senior Theses
In this paper, I talk about Section 965, also known as the transition tax, enacted in the Tax Cuts and Jobs Act (TCJA). First, I examine loopholes under the old tax regime that allowed for the accumulation of offshore earnings and how the TCJA closes those loopholes. After detailing the legislation of the transition tax and a comparison with Section 965 included in the American Jobs Creation Act in 2004, I compare firms’ recorded provisions of the transition tax with an estimation based on the past disclosures of firms’ permanently reinvested earnings and finds that the transition tax will generate …