주식매수선택권의 조세측면에서의 검토

Abstract

Stock option is introduced in 1997, in Korea and its expected that exercise of stock options

is increased sooner or later. So, this paper compared tax treatments of stock options in U.S.

and in Korea with Scholes and Wolfson(1992) paradigm.

For tax purposes, the two types of options are NQO(Nonqualified stock option) and

ISO(Incentive Stock Option). On an average level, the relative use of ISO and NQO has

changed over time consistent with changes in the tax laws favoring one or the other option

type. This paper reviewed the taxation of ISO and NQO.

In Korea, the exercise income is taxed at exercise date although after exercise, stock price

falls below exercise price. The exercise income is not other income but wage and salary

income (class B).

This study proposed on tax treatments of stock options. Therefore, This study is expected

that it will contribute to future tax reforms in Korea and empirical researches on stock

options.