Tax Policy

Selected Tax Provisions Affecting the Hard Minerals Mining and Timber Industries Gao ID: GGD-87-77FS June 3, 1987

Pursuant to a congressional request, GAO reviewed how the Tax Reform Act of 1986 affected the mining and timber industries.

GAO found that, although certain provisions for mining exploration and development and tax credit for reforestation expenses remained unchanged, the act: (1) repealed the capital gains treatment of income and the investment tax credit, which raised the tax rate on capital and the cost of acquiring capital; (2) increased the tax burden on the industries; and (3) reduced corporate tax rates.



The Justia Government Accountability Office site republishes public reports retrieved from the U.S. GAO These reports should not be considered official, and do not necessarily reflect the views of Justia.