In breaking down the executives forecasting only small reductions in the tax rate, 29% predict that it will likely decline to between 32% and 34%, while another 29% peg the possible new rate at 30% or 31%.

Asked if possible rate reductions would be offset by reducing or eliminating the benefit of certain tax provisions, 34% said they expect that the domestic manufacturing deduction, accelerated depreciation, and the use of foreign tax credits would all be reduced or eliminated. There were 15% who expect that only the domestic manufacturing deduction and accelerated depreciation would provide the offset.

The survey also revealed that 63% didn't plan to be actively involved in efforts to shape the outcome of the corporate tax debate. While 19% said they would be active, that broke down to 11% being involved through a trade group, 10% being involved individually, and 9% expecting involvement to reflect a combination of a legislative consultant, a trade association, and personal efforts.

The executive survey by KPMG's Tax Governance Institute was connected with a webcast titled "."