Thornton Matheson

Oct 1, 2024 | taxpolicycenter.org | Thomas Brosy |Thornton Matheson |Robert McClelland |Livia Mucciolo

Intangible assets, such as patents and research and development spending, represent an increasingly large fraction of investment in the economy. In this paper, we review the historic tax treatment of research and development and intangibles in the US and their economic significance. We update Tax Policy Center effective tax rate models by incorporating the capitalization of research and development, the research and experimentation tax credit, and the foreign-derived intangible income deduction.

May 1, 2024 | taxpolicycenter.org | Thomas Brosy |Gabriella Garriga |Thornton Matheson

BiographyThomas Brosy is a senior research associate in the Tax Policy Center, where he is involved in projects related to business and corporate taxation and state and local tax policy. His previous research looked at how state business taxes affect business dynamism and the impact of the Great Recession on local property taxes. Brosy graduated from the University of Michigan with a Ph.D. in economics. He previously attended the University of Lausanne, Switzerland, and University College London.