Since Measure 97 failed in an attempt to slap a corporate income tax on larger Oregon businesses, the plan in the democratically legislature is to slap a very small sales type tax on all large corporations doing business in Oregon.
The “Gross Receipts Tax,” as it’s called, looks at one thing. How much revenue did the corporation take in during the tax year, and not how much, in the opinion of the corporation, did it “net” in terms of profits. Lawmakers say the gross receipts tax is more equalitarian in that everybody’s paying a given rate right off the top.
Will it make it through the legislature? Some say it’s got a pretty good chance, but the democrats will need a little help from some of “slightly” leftish conservative friends who know it’s not cheap to run a state.
Here’s more from The Oregonian. Click here.