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    Entrepreneurship and Tax Policy

    Cover for Entrepreneurship and Tax Policy
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    View/Open: Sawyer_georgetown_0076M_11722.pdf (1.1MB) Bookview

    Creator
    Sawyer, Grant
    Advisor
    Ay, Gurkan
    Abstract
    This paper analyzes the impacts of tax changes on entrepreneurial activity. The analysis is focused on the U.S. personal income and capital gains tax reforms of 2001 and 2003 respectively. For this study a panel data set is constructed from several government agencies. The data is assessed using a time-series model with controls for macroeconomic and industry specific conditions as well factors approximating to capital availability. I find that for the 1998-2009 period there is a statistical, negative correlation between both the personal income tax rate and the capital gains tax rate and entrepreneurship as measured by the number of non-farm sole proprietorships (NFSP) tax returns as a percent of the labor force population across major U.S. industry categories. These findings are contrary to Georgellis and Wall (2002) that personal income tax rates above 35% increase entrepreneurship, but support the conclusions of both Wu (2005) and Bruce (2006) that tax increases negatively impact entrepreneurship. This paper finds that lower taxes at either the personal income or capital gains level encourage entrepreneurship.
    Description
    M.P.P.
    Permanent Link
    http://hdl.handle.net/10822/557855
    Date Published
    2012
    Subject
    Entrepreneurship; Tax Policy; Public policy; Public policy;
    Type
    thesis
    Publisher
    Georgetown University
    Extent
    37 leaves
    Collections
    • Graduate Theses and Dissertations - Public Policy
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    Georgetown University Seal
    ©2009 - 2023 Georgetown University Library
    37th & O Streets NW
    Washington DC 20057-1174
    202.687.7385
    digitalscholarship@georgetown.edu
    Accessibility