A critical and ongoing controversy in the valuation of closely held companies relates to the relative value of pass-through entities vis-a-vis traditional corporations which are subject to double taxation. This issue gained significant recognition in 1999 with the Tax Court's decision in Gross...

Results of a study of the effects of corporate tax integration on corporate capital structure decisions, based on integration reform in Canada and New Zealand. Shows that integration reduces corporate debt-to-equity rations--but that this effect is sensitive to changes in tax rates, particularly...

This paper discusses a fictional case. A newly hired staff accountant, Marisa Martin, is employed by Calypso Communication, Inc. (CC). CC is an e-commerce firm offering both business-to-business services and on-line auctions. Marisa is asked to apply some recently implemented accounting and tax...