Crackdown on Tax Avoidance Could Impede Corporate Innovation

Corporate tax avoidance has significantly increased at both the state and federal level over the past three decades. As an important tax avoidance strategy, U.S. firms extensively use intangible assets to shift taxable income from high-tax areas to low-tax areas to reduce income taxes. Therefore, patents and other intangible assets create significant tax benefits for firms.   Governments […]