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The problem of tax incentives
Economic income for mutual institutions ll
Bad Debt Reserves at Small Commercial Banks
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40 percent actual losses adding back adjusted for interest average bad debt reserves banks from 32.8 banks in l966 corporate bonds depositors effective tax rate eligible loans Estimated FDIC Federal income tax income after taxes income subject individual banks interest foregone Internal Revenue Service June 30 l,2l0 million loan losses loans in l968 Losses on Loans method in l965 million of tax Minnesota banks municipal obligations mutual institution mutual savings banks number of banks paid by commercial paying Federal income percent of loans percentage of economic proposed new taxes rate for commercial reserve method Revenue Ruling 65-92 sample Senate Finance Committee seven-tenths small commercial banks subject to tax substantial Supplemental Tax Paper Table tax exempt bonds tax exempt income tax exempt interest tax incentive tax rate paid taxable income taxable obligations taxes paid tion Total economic income total loans Total taxes transfers to bad Treasury's method U.S. Treasury Department