e/2^KbDd 1$&%)'*-qqQ^Corporate Tax Expenditures, Fiscal 1996-2002, A Detailed List ($-billions)^Corporations       ^1996-2002^TOTAL, CORPORATIONS cf?eLQ@ bQ@ ʶQ@ .R@ 7 S@ H€_vS@ R3Y|S@ 9<@        'Accelerated depreciation Q8<@ Gz<@ = ףp};@ Gz4;@ zG:@ -u[9@ 9 8@ %Bg@<' Accelerated depreciation of machinery and equipment  6@ Hz6@ Hz7@ Q7@ Q7@ "6@ }ٰA6@ Qd@D' Accelerated depreciation of buildings except rental housing \(@  @ 333333@ Q@ zG?  v? e? )ԒR{0@3' Accelerated depreciation on rental housing (\? )\(? \(\? p= ף? (\? ףp= ? [? YhOJ @9 ' Expensing of certain small equipment investments  Gz?  (\?  ?  Q?  zG?  q= ףp?  Ҥ?  kI@0 ' Amortization of business start-up costs  )\(?  )\(?  q= ףp?  q= ףp?  q= ףp?  Q?  4tE?  M?? ' Tax incentives for preservation of historic structures  ?  ?  ?  ?  Q?  Q?  Q?  Q?> ' Expensing of costs of removing architectural barriers  Q?  Q?  Q?  Q?  Q?  Q?  Q?  \(\? 'Multinational tax breaks  q= ף#@  Y$@  Q8%@  Q^&@  ,'@  pb2L(@  hy)@  G yyS@8' Inventory property sales source rules exception  @  @  @ ffffff@ ffffff@ )\(@ Mb@ U㥛|:@' Possessions tax credit Hz@ Qk @ L @ zGa @ \(\@ ? 5@ Љ2@  9@@' Deferral of income from controlled foreign corporations 333333? ? 333333? ? ffffff? ffffff@ +Fڱ@ -qR)@:' Exclusion of income of Foreign Sales Corporations ? ? ? 333333? ? ? ǦҐs? !>'@G' Interest allocation rules exception for certain financial ops. zG? zG? zG? zG? zG? zG? zG? Q?.' Deferral of tax on shipping companies ? ? ? p= ף? Q? P5P? @FPҴ? JCF?%'Insurance companies & products (\@ Hz@ Gz@ zG!@ Gz@ .E(7O!@  K#@ qa?G_I@=' Special treatment of life insurance company reserves @ @ ffffff@ @ 333333 @ P @ h\@ 5@<' Deduction of unpaid loss reserves for P&C companies ? ffffff? @ ffffff@ @ 7@ ) ;&@ zUeE0@8' Exclusion of interest on life insurance savings ? ?  ffffff? ? AA? ɝ%@ ;Ko"@?' Special deduction for Blue Cross/Blue Shield companies )\(? HzG? = ףp=?  ףp= ? q= ףp? i|?5? "? OJ?:' Tax exemption for fraternal insurance companies \(\? ? p= ף? (\? = ףp=? Q? gފ? >?/' Small life insurance company deduction ffffff?  ףp= ? RQ? (\? ? = ףp=? J7A`? ;O?F' Exclusion of investment inc from structured settlement accts. {Gzt? {Gzt? {Gzt? {Gzt? {Gzt? {Gzt? {Gzt? Q?G' Special alternative tax on small property & casualty ins. cos. {Gzt? {Gzt? {Gzt? {Gzt? {Gzt? {Gzt? {Gzt? Q?>'Tax free bonds, public (excludes state & local savings) p.? p.? ;X(яP? p?D(? B-9@ ,jlN@ N+@ +ރy+@<'Tax-free bonds, private (excludes non-profit savings) #▕G@ YZ]V@ a`߯ @ 1h˞@ PX=@ \jAkE@ F\u@ @0\<@A' Airports, docks and sports & convention facilities bonds +73? Qe? =?  ۣ? s? 2h? Y-$? "=y? "JuO%%? " /? "pDҏC? "KaT? "Yzf?0#' Private nonprofit health facility bonds #O$*6!? #O$*6!? #,`F? #<2? #=(gO? #P+W? #8? #LVP?$' Mortgage subsidy bonds $8I? $4&? $x9? $t? $ "? $xlܫ? $!dï? $CT:?%' Rental housing bonds %fǍ?s2? %A>? %ULiT? %ULiT? %ULiT? %ULiT? %ULiT? %B?5&' Private nonprofit educational facility bonds &ā ? &ā ? &:OG? &:OG? &:OG? &:OG? &:OG? &9%=?'' Student loan bonds '/M ? 'N? 'N? 'N? 'U#֕? 'l&\? '‚dž? 'Sg,?(' Veterans housing bonds ( TDC? (XI;? (&a6>? (eJ? (!iMb? (8d? (;;? (vIM?%)'Business meals & entertainment )CDDDDd @ ) @ ) @ )Z?h@ )[ Lo}k@ )~͂*@ )k@ ).>ɔ;@*'R&D tax breaks *p= #@ *L@ * ףp= @ *)\@ *HzG@ *R@/'@ *0@ *j6R2@?+' Expensing of research and experimentation expenditures +R@ +Q@ +Gz@ +ףp= W@ += ףp=@ +R@/'@ +XQ.@ +<\E1@2,' Credit for increasing research activities ,HzG? ,= ףp=? ,Q? ,{Gz? ,{Gzt? , , ,ףp= ? - - - - - - - -.'Oil, gas, energy .J +@ .=Uk@ .F?N@ .YBc@ .:E@ .HIUڳb@ .ʦ؅j;@ ../9A2@+/' Alternative fuel production credit /333333? /= ףp=? /? /? /ffffff? /333333? /uPuP7? /1@/0' Gasohol, excise tax exemption & credit 0 ףp= ? 0r鷯? 06:U? 0N/? 0rP? 0V!n? 0`:PD ? 0ZVg+@*1' Oil and gas, percentage depletion 1p= ף? 1p= ף? 1Q? 1Gz? 1)\(? 1Q? 1"CeK? 1-؂-@2' New technology credit 2Zd;O? 2%u? 2MG7? 2&ݞ9N~? 2 #7? 2- ? 2$xi? 2.?_?*3' Other fuels, percentage depletion 3p= ף? 3(\? 3n? 3]hH? 3~s$? 6O@*~? 6_!?+7' Enhanced oil recovery costs credit 7{Gz? 7? 7? 7? 7? 7? 7? 7(\?<8' Other fuels, expensing of intangible drilling costs 8{Gz? 8{Gz? 8{Gz? 8{Gz? 8{Gz? 8? 8? 8?)9' Expensing of tertiary injectants 9{Gz? 9{Gz? 9{Gz? 9{Gz? 9{Gz? 9{Gz? 9{Gz? 9Q?:'Special ESOP rules :)\(? :RQ? :p= ף? :ףp= ? :(\? :Q? :L5Q? :ČNn @-;'Financial institutions (non-insurance) ;{Gz? ;= ףp=? ;Gz? ;q= ףp? ;p= ף? ;xu榊? ;U(ч? ;MA[@)<' Exemption of credit union income <333333? <? <Gz? <Gz? <HzG? <Ǝ= ? <0%u? <jG`@;=' Excess bad debt reserves of financial institutions == ףp=? =Q? =̼? =Gz? =? =p= ף? =Y5;N? =St$? >'Low-income housing credit >Q? >q= ףp? >Gz? >ffffff? >(\? >b/? >|^? >oO@$?'Timber, agriculture, minerals ?Gz? ?7o1? ?>ћ@G? ?@? ?eV%? ?z? ?:(? ?ԝ@6@' Expensing of multiperiod timber growing costs @? @Q? @(\? @? @Gz? @ffffff? @d@=S? @@/A' Percentage depletion, nonfuel minerals A{Gz? Aq= ףp? Affffff? A(\? A333333? A\^0? AQ&6? A˭V?;B' Expensing of certain multiperiod agriculture costs BS㥛? BW? Bݧ? B? B`mNt? B42F? B_Gj? B]6?(C' Cash accounting for agriculture CQ? CQ? CQ? CQ? CQ? CQ? CQ? CzG?6D' Special rules for mining reclamation reserves DMb? DMb? DMb? DMb? DMb? DMb? DMb? DtV?DE' Expensing exploration & development costs, nonfuel minerals E)\(? E?Ɯ? Epi? EX? E2+Ğ? ES,b|? E f? E=a\?<F' Expensing of soil & water conservation expenditures F? F? F? F? F? F? F? Fffffff?DG' Investment credit and 7-year amortization for reforestation G{Gz? G{Gz? G{Gz? G{Gz? G{Gz? G{Gz? G{Gz? GQ?+H' Exclusion of cost-sharing payments HI +? H@Lj? HEB? H%r? H&1}? HCPv $? HJ֋q? H 1|C?#I'Capital gains (except homes) I? I? IHzG? I333333? I333333? I333333? I333333? IQ@*J' Deferral on like-kind exchanges J? J? JHzG? J333333? J333333? J333333? J333333? JQ@K'Installment sales Kp= ף? K(\? K{Gz? K? KQ? Kq= ףp? K+[? KsLˇ@L'Empowerment zones L? L{Gz? Lp= ף? LQ? L? L? Lx*Uh? L Sr?"M'Other business & investment MI@ M[ܗ@ MЀ @ M;A @ MˠE!@ M %T"@ MAPA}#@ MՖM@-N' Graduated corporate income tax rates NR@ N(\@ NGz@ Np= @ NR@ Nż;@ NѲ@ NIHfA@(O' Corporate charitable deductions OnL3-@ O @ OM@ O{ե@ O]ϝE{@ O,1g@ OyL^@ O|#'71@<P' Exclusion from NOL limits for bankrupt corporations P? P? Pq= ףp? P(\? PHzG? PI%? P+/? PM @!Q' Completed contract rules Q? QzG? Q)\(? Qq= ףp? QQ? Q4tE? Qc(? QW?0R' Credit for disabled access expenditures R333333? R333333? R333333? R333333? Rףp= ׳? Rףp= ׳? Rףp= ׳? R ףp= ??S' Exemption of certain mutuals and cooperatives income S? S? S)\(? S)\(? SQ? SQ? SQ? S(\?T' Targeted jobs credit TGz? TS㥛? TX9v? TQ~? T{Gzd? T T Tffffff?BU' Investment credit for fixing up structures (non-historic) UMb? UMb? UMb? UMb? UMb? UMb? UMb? Uy&1?/V' Cash accounting other than agriculture V{Gz? V{Gz? V{Gz? V{Gz? V{Gz? V{Gz? V{Gz? VQ?7W' Expensing of magazine circulation expenditures W{Gz? W{Gz? W{Gz? W{Gz? W{Gz? W{Gz? W{Gz? WQ?9X' Permanent exceptions from imputed interest rules X{Gz? X{Gz? X{Gz? X{Gz? X{Gz? X{Gz? X{Gz? XQ?:Y' Special rules for magazine, book & record returns Y{Gz? Y{Gz? Y{Gz? Y{Gz? Y{Gz? Y{Gz? Y{Gz? YQ?0Z' Treatment of Alaska Native Corporations Z{Gz? ZQ? Z{Gz? Z{Gzt? Z{Gzt? Z{Gzt? Z{Gzt? Zp= ף? [ [ [ [ [ [ [ [n^'Sources: Joint Committee on Taxation, Estimates of Federal Tax Expenditures for Fiscal Years 1996-2000,_' Sept 1, 1995. Office of Management and Budget, Budget of the United State Government, Fiscal Year 1997, Analytical Perspectives, Tax Expenditures`'1996). Institute on Taxation and Economic Policy Microsimulation Tax Model (April 1996). Figures are generally averages from the first two sources, ma'except where an item was listed in only one source or one source was based on more current informationb'or otherwise appeared to be more accurate). Tax-exempt interest benefits were recalculated and reallocated to take account of lower interest rates received by bondholders,Xc' benefits to borrowers and other factors. A few items, such as business meals anded'entertainment, are not on either list, and were calculated by Citizens for Tax Justice (1996).)e' All figures are for fiscal years.