Taxpayer Association Capitol News: Two new tax bills advance

Taxpayer Association of Oregon Tax Alert,

HB 2616: Up in the House today, passed out of House Revenue late last week. Gives local governments the option to tax cigarettes.

HB 2078: Passed out of House Revenue Tuesday, June 16. Another tax bracket adjustment on taxable income for those taxpayers making over $150,000 per year. This bill is similar to the other tax bills in that it is retroactive and applying to the 2009 tax year. The taxpayer making over $150,000 of taxable income will be liable for $13,360 plus 10% of the excess over $150,000.