The Oregon Center for Public Policy (OCPP) posted excellent "Visual Guides to Measures 66 and 67" in "The Stump" in early November.
Under Measure 67:
-- the impact of the measure depends upon the type of business entity
-- owners of proprietorships have NO tax increase
-- owners of other small businesses -- "partnerships, limited liability partnerships, limited liability companies and S-corporations" -- pay $150
-- the taxes on C-corporations, "those ... that pay federal taxes under Subchapter C of the Internal Revenue Code," are more complex, and depend upon the level of their profits, and the tax credits they can subtract. Part 2 of the Measure 67 flowchart presents a clear presentation of the tiered tax structure. Note that tax rates on C-corporations decrease in 2011-12, and again in 2013.
Measure 67 in perspective:
Bill Graves in The Oregonian on Dec. 12 noted that "Oregon's 2008 state and local business taxes [are] ... the third-lowest tax burden in the nation ... If Measure 67 passes ... [Oregon will have] the nation's fifth-lowest business tax burden."
Carla Hanson in "The Stump" on Jan. 5 notes that "Corporations operating in Oregon pay 71 percent less in state corporate income taxes than they did in the 1970s. In the 1973-75 budget cycle, corporations accounted for 18.5 percent of Oregon income taxes. In the 2009-11 cycle, their share is projected to be just 6 percent under current standards."
Hanson also notes that according to a 5/25/03 Oregonian article "corporate taxes to the state shrank to 4 percent in 2001-2003, from 7 percent in 1999-2001. 'At no time since record-keeping began in the late 1970s has the corporate contribution to the state budget been so low,' according to the article."
For more on Measures 66 and 67 see:
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