Corporate Taxes

Office of the Governor / Flickr

 

Oregon Gov. Kate Brown released a plan Thursday on how she'd use money from a potential corporate tax increase. The increase would come from a ballot initiative if voters approve it this fall.

Brown didn’t say she supports it. But in her plan she said she wants to create a fund to pay for career and technical high school education. She'd also expand a tax credit for low income families and offer tax breaks to companies that keep jobs in Oregon despite having to pay the tax.

The grocery industry is calling it quits on a potential ballot measure that would have privatized liquor sales in Oregon. Currently, hard liquor like whiskey, vodka and gin can only be sold in state-chartered stores.

Grocers want to be able to sell it along with their current selections of beer and wine, but the industry group behind the effort said Wednesday they won't collect any more signatures for the initiative.

An Oregon state lawmaker is making what he calls a long shot attempt at heading off an initiative that would raise corporate taxes.

Washington lawmakers recently rushed into special session to pass $8.7 billion in aerospace tax breaks. The aim: to land Boeing’s next generation 777 airplane. But how much does Boeing – or any other major company in Washington - pay in taxes?

Oregon lawmakers have turned away an attempt to expand a tax deal offered to athletic apparel giant Nike last year. Democrats in the Oregon Senate Wednesday rejected a Republican measure to freeze the way taxes are calculated on businesses.

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."

Two days after a proposed tax hike faltered in the Oregon House, a union-backed group has filed initiatives to raise taxes on corporations. The move by Our Oregon Friday could be a repeat of a bitter tax fight three years ago.

Our Oregon has successfully led two tax campaigns in the last few years. The group estimates the six initiatives it’s looking at for 2014 would raise corporate taxes anywhere from $75 million to more than $1 billion a year.

Nike Proposal Cheered, Jeered At First Hearing

Dec 13, 2012
Brandon Carson / Flickr

The proposal to give Nike certainty on the way its Oregon income taxes are calculated is winning both cheers and jeers at the state capitol. Lawmakers and interest groups are suggesting several changes to Gov. John Kitzhaber's plan, which will come before a special session of the legislature Friday.