Taxpayers Association of Oregon
Oregon Governor Kate Brown just released state budget calls for a quarter billion dollar tax increase on mostly small businesses. Brown wants to gut the 2013 small business tax savings.
Brown says this is closing a loophole, but in reality Governor Brown’s tax hike would make small businesses pay a higher tax rate than big corporate (c-corp.) businesses for the same amount of revenue.
Governor Brown is putting the entire burden of the pandemic budget costs on the backs of small family owned businesses!!!!
Right now, businesses are ordered to be closed and exist without customers and at the same time take on new tax increases!
Governor Brown is raising taxes on a once-in-a-century pandemic.
This is crazy.
The Oregonian reports “Brown wants lawmakers to raise $273 million by closing “tax loopholes that primarily benefit wealthy Oregonians.” That includes a tax break for pass-through businesses such as partnerships and S corporations that the Legislature adopted during a 2013 special session aimed at trimming public pension costs and raising taxes”
The 2013 small business tax cut (Brown wants to repeal) was about fairness. Big Wall Street corporations pay between 6.6% and 7.6% corporate taxes in Oregon. Before 2013, a small family owned business might pay up to 9.9% on their businesses taxes because it is a family owned business and therefore they would not pay corporate taxes (6-7%) but rather personal income taxes on their revenue (9.9%). The 2013 small business tax cuts helped to lower typical family owned businesses taxes (from 9.9%) closer to what corporations were paying (around 7%). It is important to show you these numbers because Oregon has one of the highest personal income rates in the nation. That directly impacts family owned businesses and is why the 2013 tax relief was so necessary.
If Governor Kate Brown gets her way, small family owned businesses will be paying more taxes than big C-corporation businesses on the same level of revenue.
Remember that many businesses like bowling alleys and movie theaters are currently not accepting any customers due to the statewide mandate. This is a tax increase on businesses with currently no customers.
— Spread the word! Facebook Like, Tweet, Link and Email this very article.
— We’ve been protecting you for 21 years.