Oregon Senate GOP wants to extend tax-certainty to all businesses

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Oregon Senate Republicans

Stability and predictability should be available to all

Salem, OR – Senate Republicans introduced a bill this week that would allow the Governor to negotiate tax predictability with a variety of businesses in exchange for economic investment in the state. With the approval of the legislature last December, the Governor entered into an agreement with a global company that will invest $150 million in the state and create 500 full time jobs.

“If it is good for one business, it is good for hundreds of other companies that want to grow, invest and create living-wage jobs in Oregon,” said Betsy Close (R-Corvallis/Albany). “A shot at predictability shouldn’t only be available to big companies. Certainty doesn’t cost taxpayers or the state a dime, but is a powerful tool to help businesses grow and put more Oregonians on the payroll.”

Senate Bill 819, as introduced by the Senate Republicans, would empower the Governor to give tax certainty to any company willing to make an investment in Oregon. The bill removes the threshold of $150 million and 500 full-time jobs, giving the Governor flexibility to solicit companies of various sizes and capabilities, rather than limiting the focus to a select few big corporations.

The Governor could grant a contract that would guaranty that a company’s tax liability is calculated using Oregon’s current single-sales factor, which doesn’t count payroll or property when determining how much a multi-state corporation owes. Instead, Oregon law only looks at sales in the state. Locking in a taxation method for companies allows them to predict and plan for the future, an invaluable tool for growth and success.

“This is an issue of equity and fairness,” said Senator Tim Knopp (R-Bend). “Oregon businesses no matter how small should be able to compete on a level playing field with the big guys. Extending certainty to all will foster a robust economy that helps families thrive and puts money in state coffers.”

“During December’s special session, Republicans asked that this opportunity be extended to more businesses,” said Senator Doug Whitsett (R-Klamath Falls). “We were told there wasn’t time, and that a longer session was needed. Now we have the time and it is still the right thing to do.”

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Posted by at 05:15 | Posted in OR 77th Legislative Session, Oregon Senate, State Taxes | 5 Comments |Email This Post Email This Post |Print This Post Print This Post
  • Bob Clark

    Tax rate and structure stability for all Oregonians. We all are economic units of one sort or another; and stability in tax rates, structure and regulation allows us to plan our economic activities with more commitment.
    End the game of new taxes, tax reform; and no tax rate cuts; Let’s just live with the tried and true tax system and rates we have; create state and local finance reserves in good times and draw on them when the economy is flat or takes a dip.
    This is fair too all, balancing the rights of private individuals against the safety net demands of government.

  • Oregon Engineer

    This does not solve anything. Just puts the Guvn’a in charge of selecting winners and losers. why not just eliminate the businesss taxes and let any and all business come in. stable tax structure zero taxes. how much economic growth would that stimulate? Or make the business tax so low and unchanging that business does not care. Then let the cities figure out how to attract and retain busines. probably as they do now, lure them in with major tax advantages, and then close the trap and increases taxes after they are captured.
    Stupid.

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