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Oregon Measure 97 listed in Tax Foundation's "Top State Tax Ballot Initiatives to Watch in 2016"

Tuesday, October 18, 2016   (0 Comments)
Posted by: Elizabeth Peters
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The nation’s leading independent tax policy research organization today listed Oregon's Measure 97 on its "Top State Tax Ballot Initiatives to Watch in 2016," referring to the bill as "economically destructive."

 

The non-partisan Tax Foundation, based in Washington DC, reported that voters going to the polls in November "will weigh in on significant—in some cases, momentous—policy questions."

 

"Oregon voters face one of the most potentially economically destructive questions on the ballot this year, with a proposal to institute a 2.5 percent gross receipts tax on corporations with substantial sales volume in Oregon," wrote authors Joseph Henchman, Scott Drenkard, Nicole Kaeding, Jared Walczak, and Morgan Scarboro.

 

"While 2.5 percent seems small, because it is levied on total receipts instead of total profits, it is many of orders of magnitude greater than voters might think. For context, Ohio’s Commercial Activity Tax is levied at a rate of 0.26 percent, raising around 10 percent of state revenue."

 

The Tax Foundation also noted that "Oregon’s tax Is projected to bring in $6 billion dollars over the biennium budget, swelling government revenues by 25 percent."

 

Read the full study here.


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