中文摘要
本研究考察所得税来源地规则如何影响美国各州的商业活动。随着技术使企业能够向全球消费者提供服务，越来越多的政府试图按客户所在地（“基于市场的来源地规则”）而非企业劳动和资本所在地对服务型企业征税。与基于市场的来源地规则降低了将边际劳动力布局于本州的税收成本相一致，我发现在控制了同期税收政策变化之后，各州采用基于市场的来源地规则使受影响服务行业的总雇员人数和总劳动收入增加约 2% 至 5%。我发现了间接证据表明，这些效应主要归因于企业扩张而非员工在州际之间的重新配置。基于市场的来源地规则似乎并未对各州企业所得税收入产生不利影响。鉴于美国各州越来越多地采用基于市场的来源地规则以及相关的国际提案，本研究为政策制定者提供了及时的洞见。
Abstract
This study examines how income tax sourcing rules affect business activity in U.S. states. As technology has enabled companies to provide services to consumers globally, a growing number of governments seek to tax service companies based on the customer location (“market-based sourcing”) rather than the location of the company’s labor and capital. Consistent with market-based sourcing reducing the tax cost of locating marginal labor in the state, I find that state adoption of market-based sourcing increases the total number of employees and total labor earnings in affected service industries by roughly 2 to 5 percent, after controlling for concurrent tax policy changes. I find indirect evidence that the effects are mostly attributable to business expansion rather than employee reallocation across states. Market-based sourcing does not seem to adversely affect state corporate tax revenues. This study provides timely insights for policymakers given increased adoption of market-based sourcing by U.S. states and related international proposals.