Oregon Death Tax repeal petition hangs in the balance

Oregon Death Tax repeal petition hangs in balance — you could make the difference
By Taxpayer Association of Oregon

All eyes are on the Death Tax Repeal petition (petition #15) because the drive is close and the deadline is also close as it falls on July 6th which is Friday of next week. This is Oregon’s chance to join most other states in rolling back our estate tax. Eliminating this terrible death tax could lead to creation of up to 44,500 jobs to Oregon over the next 5 years and make Oregon a decent place to rest in peace. The initiative forbids any new tax on any property transfer among living family members. It phases out the capital gains tax on property sales within a family on the same schedule as the phase out of the death tax. You can download a petition here.

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Posted by at 12:00 | Posted in Uncategorized | 5 Comments |Email This Post Email This Post |Print This Post Print This Post
  • HBguy

    So, say someone buys shares of stock that doesn’t pay much dividend but has a lot of capital appreciation over a 20-30 year period of time. say they paid, total, $100,000 for those shares, and they are now worth $2,000,000. This person never paid any taxes on that $1,900,000 gain. Ever.

    So, the investor passes away, and leaves those shares to their kids. The kids sell them. and pocket $1,900,000. Under this proposed law change that profit will never be taxed.

    Under Current Oregon law, the kids would still not pay taxes on the first million, but would have to pay tax on the second million. Not too bad.

    And, if the investor was married, and had any sense at all, under current Oregon law, the kids wouldn’t have paid any taxes at all anyway.

    I’m not sure I have a problem with changing Oregon law to provide that any real estate passes without any estate tax, as long as there is no step up in tax basis. But really, a law that provides for no tax AND the step up in tax basis is really a way for people with assets of over $2,000,000 to get a tax windfall for their beneficiaries.

    If that’s what we want to do. That’s fine. But I think there’d be a lot more support if the change were more narrowly drawn so that it wasn’t just a way to defer income (by buying capital appreciation stocks) in order to avoid taxes.

  • Did I miss something, or did this site stop updating?

    • Hi David, you may have to do a refresh with your browser. If that doesn’t work, please just send an email to [email protected] with the issue.

      • Weird – I had done that repeatedly, but until doing it again today, this remained the most recent post I’d seen.

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