Capitol abounds in new business taxes

Capitol abounds in new business taxes
Taxpayer Association of Oregon

Photo:Taxpayer Association Lobbyist Matt Evans opposing SB 165

Two weeks the Taxpayer Association of Oregon testified against SB 165 which would strip away the small business tax cut for many of Oregon’s smallest businesses. SB 165 would cancel existing tax breaks for small business if they do not increase hiring. It in effect would penalize Oregon’s most hurting businesses in an economic downturn by raising their taxes while not raising taxes for those businesses that doing fine. Furthermore, it raises these taxes by avoiding the 3/5th majority needed to raise taxes because the politicians deem it not a tax increase (which it does) but rather an eligibility change.

Up today in the House are two different business tax bills. House Bill 2831 puts a $1000 minimum tax on larger S-corporations. House Bill 2830 would be an 8% tax increase on C Corporations on their taxable income above $1 million. Neither of these bills have the 3/5th majority requirement.

It appears that after the failure of the $3 billion dollar Measure 97 business tax by voters last fall, that the new goal of the politicians is to hit businesses with a dozen smaller taxes. These taxes of Senate Bill 165, HB 2830 and House Bill 2831 would raise all sorts of taxes on both small and large businesses.

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