Measure 118: New tax to give $$ to homeless, dead people

By Taxpayers Association of Oregon
OregonWatchdog.com

Oregon Ballot Measure 118 will be on the Oregon Ballot this November as Measure 118 would tax many corporations 3% and become the largest tax in Oregon history..

The 3% tax on larger businesses would go to funding$750 rebate checks to people who are in Oregon.

This includes homeless people who have lived (or say they have lived) in Oregon for more than 200 days.

This includes people who have lived in Oregon but died at the end of the year.

This tax is also a double tax and triple tax as it taxes a single product several times as it moves through the normal business process of being made and sold to the customer.

Measure 188 is a bad idea.  It should be rejected.

HERE IS HOW THE BALLOT MEASURE WILL LOOK ON THE BALLOT:

Certified ballot title: Increases highest corporate minimum taxes; distributes revenue to eligible individuals; state replaces reduced federal benefits

Result of ‘Yes’ Vote: ‘Yes’ vote increases corporate minimum tax on Oregon sales exceeding $25,000,000; eliminates tax cap; distributes revenue to eligible individuals; state replaces any reduced federal benefits.

Result of ‘No’ Vote: ‘No’ vote retains existing corporate minimum taxes on Oregon sales; twelve tax brackets impose different tax amounts, capped at $100,000 tax on sales exceeding $100,000,000.

allot summary:“Current law requires corporations to pay higher of either tax on taxable income or corporate minimum tax. Except S corporations, minimum tax amount determined by tax bracket based on corporation’s Oregon sales; minimum tax capped at $100,000 for $100,000,000 or more in sales. Beginning 2025, measure removes minimum tax cap; increases minimum tax on all corporations with Oregon sales exceeding $25,000,000 by imposing additional tax of 3% for sales above $25,000,000. Measure directs Department of Revenue to equally distribute increased revenue (minus certain costs) to all individuals residing more than 200 days annually in Oregon. Revenue distribution does not affect individual eligibility for state benefits; measure requires replacement of reduced federal benefits if distribution negatively affects individual’s benefits under any need-based program. Other provisions. “

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