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Modeling farm -level impacts of federal income tax reforms : = A stochastic simulation approach.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Modeling farm -level impacts of federal income tax reforms :/
其他題名:	A stochastic simulation approach.
作者:	Muzinga, Ngamboko Papa.
面頁冊數:	1 online resource (221 pages)
附註:	Source: Dissertations Abstracts International, Volume: 67-06, Section: A.
Contained By:	Dissertations Abstracts International67-06A.
標題:	Farms. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3182332click for full text (PQDT)
ISBN:	9780542230448

Modeling farm -level impacts of federal income tax reforms : = A stochastic simulation approach.
Muzinga, Ngamboko Papa.

Modeling farm -level impacts of federal income tax reforms :A stochastic simulation approach. - 1 online resource (221 pages)

Source: Dissertations Abstracts International, Volume: 67-06, Section: A.

Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2005.

Includes bibliographical references

This dissertation places the debate to replace the current federal income tax system with a consumption-based tax system into a broader context about consumption versus income-base tax systems, and examines the impacts of two consumption tax proposals, the FT and the NRST regimes, in comparison to the Pre-2001 Tax Code. A stochastic multi-year farm-level simulation approach is used to evaluate the level and the variability of the federal income taxes that Central Illinois crop farms would pay, and the level and the variability of after-tax net incomes that Central Illinois crop farmers would generate across the three tax schemes. The model contains two components. The first describes the farm inputs, assets, key assumptions, liabilities, loans, and depreciation. The second contains the output variables, which come from the balance sheets, income statement, statement of cash flows, and the statement of owner equity. On average, the probability of generating higher incomes for crop farm simulated in this study is the highest when crop share increases from 20% to 50%, and when cash rent decreases from 80% to 50% (Scenario #3). Within scenario #3 and at all percentile levels, there is no single tax code that completely dominates the others across farms. However, one-half of small and medium crop farms would generate more net income under the Pre-2001 Tax Code. At the upper percentiles, the 18% and 20% FT plan slightly dominate the Pre-2001 Tax Code. Also, at all percentile levels, the NRST provides the least after-tax net incomes for small crop farms. However, contrary to small crop farms, the 15% NRST Code produces the highest net incomes at the upper quartile and above for a medium size farm, and at lower quartile and above for a large farm. Results for Total Taxes paid are consistent with those for after-tax net incomes. Regarding the equivalent tax revenue, overall, there is no specific income level to which crop farm would be indifferent across tax codes. The study suggests that future research should empirically explore the effects on interest rates, savings, and investments due to tax reforms at farm levels.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2023

Mode of access: World Wide Web

ISBN: 9780542230448Subjects--Topical Terms:

3221144
Farms.
Subjects--Index Terms:

Farm-levelIndex Terms--Genre/Form:

542853
Electronic books.

Modeling farm -level impacts of federal income tax reforms : = A stochastic simulation approach.
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504 $a Includes bibliographical references
520 $a This dissertation places the debate to replace the current federal income tax system with a consumption-based tax system into a broader context about consumption versus income-base tax systems, and examines the impacts of two consumption tax proposals, the FT and the NRST regimes, in comparison to the Pre-2001 Tax Code. A stochastic multi-year farm-level simulation approach is used to evaluate the level and the variability of the federal income taxes that Central Illinois crop farms would pay, and the level and the variability of after-tax net incomes that Central Illinois crop farmers would generate across the three tax schemes. The model contains two components. The first describes the farm inputs, assets, key assumptions, liabilities, loans, and depreciation. The second contains the output variables, which come from the balance sheets, income statement, statement of cash flows, and the statement of owner equity. On average, the probability of generating higher incomes for crop farm simulated in this study is the highest when crop share increases from 20% to 50%, and when cash rent decreases from 80% to 50% (Scenario #3). Within scenario #3 and at all percentile levels, there is no single tax code that completely dominates the others across farms. However, one-half of small and medium crop farms would generate more net income under the Pre-2001 Tax Code. At the upper percentiles, the 18% and 20% FT plan slightly dominate the Pre-2001 Tax Code. Also, at all percentile levels, the NRST provides the least after-tax net incomes for small crop farms. However, contrary to small crop farms, the 15% NRST Code produces the highest net incomes at the upper quartile and above for a medium size farm, and at lower quartile and above for a large farm. Results for Total Taxes paid are consistent with those for after-tax net incomes. Regarding the equivalent tax revenue, overall, there is no specific income level to which crop farm would be indifferent across tax codes. The study suggests that future research should empirically explore the effects on interest rates, savings, and investments due to tax reforms at farm levels.
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650 4 $a Agricultural commodities. $3 3562094
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653 $a Flat tax
653 $a Stochastic simulation
653 $a Tax reform
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