The Tax Exemption to Subchapter S Banks: Who Gets the Benefit?
研究了1996年美国《小企业就业保护法》允许银行采用S子章身份后，税收优惠是否用于保护就业、创造机会和提高员工工资，发现银行所有者是唯一受益者。
Abstract The Small Business Job Protection Act of 1996 allows U.S. banks to adopt the Subchapter S status. We investigate if the Subchapter S banks use tax benefits for the intended purposes of “protecting jobs,” “creating opportunities” and “increasing take home pay of workers.” We find that the tax benefits: (a) are not used in expenses related to protection of jobs, (b) do not lead to greater employment opportunities within the Subchapter S banks, and (c) do not benefit the employees in the form of increased salaries and benefits. Our results indicate that bank owners are sole beneficiaries of the tax exemption benefits.