We investigate the tax implications for the new recreational marijuana industry in the United States, which reached a size of $9 billion in 2017. We exploit administrative data from Washington state to evaluate market conduct, and we estimate the elasticity of supply to be 1.46 . In addition, we [...]

Utah legislators are once again debating whether to eliminate the sales tax on food, in hopes of giving a break to lower-income households. But Eccles School professor Adam Looney argues in a new op-ed that while the proposal is laudable in its aims, it is based on a misinterpretation of [...]

Investor-level taxation may distort merger and acquisition decisions when capital gains are taxed at a preferable rate, relative to dividends. The intuition is that the value of a target’s assets depends on whether the target is acquired. If it is acquired, then the firm’s equity is taxed at the capital [...]

In this article, Patel and McClelland present a prototype destination basis cash flow tax to replace the existing corporate income tax. To gain some insight into the potential consequences of the United States adopting a cash flow tax of this form the authors use a panel of tax returns [...]