@techreport{NBERw13709, title = "Using Tax Return Data to
Simulate Corporate Marginal Tax Rates", author = "John R. Graham
and Lillian F. Mills", institution = "National Bureau of
Economic Research", type = "Working Paper", series = "Working
Paper Series", number = "13709", year = "2007", month =
"December", URL = "http://www.nber.org/papers/w13709", abstract
= {We document that simulated corporate marginal tax rates based
on financial statement data (Shevlin 1990 and Graham 1996a) are
highly correlated with simulated rates based on corporate tax
return data. We provide algorithms that can be used to estimate
the book or tax simulated rates when they are not available. We
find that the simulated book marginal tax rate does a better job
of explaining financial statement debt ratios than does the
analogous tax return variable and discuss how the book simulated
rate is likely to be an appropriate measure in settings with
global, long-term considerations.}, }