We characterize the effects of different methods of taxing multinational income on productive efficiency in a competitive equilibrium. The efficient outcome is achieved when every firm that produces and sells domestically faces the same tax rate as a multinational firm selling into the same...

This paper develops a model of dynamic tax planning in which the implementation of a tax plan involves exercising the option regarding an irreversible investment or financing structure choice. The model is applied to a common estate freeze tax plan. Undertaking an estate freeze requires a...