WEATHER IN LINCOLN COUNTY

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Governor Brown Statement on Tax Break for Small Businesses

Governor Kate Brown
Oregonian photo


Governor Brown Statement on Tax Break for Small Businesses

Governor Kate Brown released the following statement today after meetings with Democrat and Republican legislative leadership regarding plans to call for a special session to adapt Oregon’s pass-through law to include the smallest businesses, sole proprietorships, in the tax break afforded larger businesses:

“We have an obvious inequity in Oregon’s tax system that is prejudiced against thousands of small Oregon businesses, and a simple change can fix it. I’m simply not willing to let these main street businesses — entrepreneurs, mom and pops, and start-ups — go through another tax year with unfair tax treatment as compared to their larger competitors.

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“An estimated 9,000 sole proprietorships could qualify and use this new opportunity to reinvest more of their profits into their businesses and employees. And with this new economic incentive many more could take advantage of the same tax break that larger businesses already enjoy. We’ve already seen the number of large companies that qualify increase since the pass-through law was first created just five years ago. Nine thousand may seem like a small number to some in Salem, but to these business owners and their employees, it makes a big difference.

“I’m calling for a special session on May 21 to make this change to keep our small businesses growing. Legislative days are already scheduled for this week so it will work for most legislators’ schedules and will keep additional costs to the state to an absolute minimum.

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“It is important to do this now for our smallest businesses — waiting any longer will only cost the businesses themselves more money. If we want these thousands of businesses to qualify for this economic incentive for the 2018 tax year, this has to be done now and cannot wait. Administratively, any tax bill passed in the 2019 regular session would not take effect until October 2019 — long after 2018 taxes are filed.

“It is universally acknowledged that these small businesses are treated unfairly as compared to their competitors in Oregon’s tax system. Because of this I look forward to working with the Legislature to get this addressed now, for the 2018 tax year.”

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