Why tax a business during a crisis?
By Taxpayer Association of Oregon
Oregon’s new Corporate Activity Tax (CAT) on business sales revenue goes into effect this year. Unlike most other businesses taxes in America this tax hits businesses on their revenue not their profit. This means a business that is actively losing money will have a huge tax bill.
The absurdity of this tax is why most states avoid the tax except for about six.
The CAT tax is about to hit Oregon businesses as they struggle with the uncanny fall-out from the Coronavirus. Many of your favorite shops and stores are looking at 90% customer drops during this terrible season we are in.
While America considers how to cut taxes and regulations to save businesses Oregon is going the opposite direction and raising taxes on small businesses because the Oregon CAT tax goes into effect this year. The pain this tax could cause will be immeasurable.
The Governor should call a Special Emergency Legislative Session so lawmakers can repeal this new $1.3 billion annual tax and quite possibly end up saving thousands of jobs.
Please spread the word that Oregon’s new CAT tax should be repealed.
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