People of Northwest Public Radio
Thu May 16, 2013
Increased Corporate Tax Collections Could Trigger Oregon's Kicker Rebate
Originally published on Thu May 16, 2013 3:22 pm
Better-than-expected tax collections could trigger Oregon's unique kicker law, at least for corporations. The rebate is issued if revenues exceed initial projections by more than two percent. A newly released revenue forecast noted Thursday that business taxes have been robust enough to cross that threshold.
But state economist Mark McMullen says a final tally won't be made until later this year. "We believe that a kicker is better than a 50-50 shot. But not a sure thing. That came with a big surge in corporate taxes at the beginning of the year."
McMullen is not projecting a kicker rebate on personal income taxes.
Oregon voters approved a ballot measure last year to eliminate corporate tax kickers. But that doesn't take effect until the next budget cycle. Lawmakers are considering a bill that would do away with the corporate kicker this year, but it has yet to receive a vote.
On the Web:
Surplus Refund (Kicker) History - Oregon Dept. of Revenue