Ghost Of Measure 97 Appears As Oregon Lawmakers Unveil Business Tax Proposal
Oregon lawmakers got their first look Tuesday at a proposed business tax that’s meant to help bridge a $1.6 billion budget shortfall.
The proposal, sometimes called a “gross receipts tax” or a “commercial activities tax,” would tax companies based on the amount of their annual sales in Oregon.
That’s a fairly significant change from the way it’s done now. Currently, if a company can show it didn’t turn a profit, then it doesn’t have to pay the corporate income tax. Under this proposal, the current corporate income tax in Oregon would disappear at the end of 2017.
Businesses with less than $150,000 in Oregon sales would not have to pay the gross receipts tax. Businesses with more than $150,000 in sales, but less than $1 million in sales, would pay a flat rate of $250.
Read more: http://www.opb.org/news/article/oregon-lawmakers-unveil-business-tax-proposal/
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