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Oregon
Corporations Get 23 Percent Tax Cut for 2005
Without the Legislature taking a single vote, Oregon corporations finished the
2005
legislative session scoring a 23 percent reduction in their 2005 corporate
income taxes.
This will happen because revenue receipts in the 2003-05 budget
period significantly
exceeded official state revenue projections.
Read OCPP s news release
Oregon Corporations Quietly Receive 23 Percent Reduction in 2005 Taxes,
and
an OCPP commentary on the kicker,
The $62.5 Million Question.
Planned Tax Cut Moved Earlier
The Legislature also advanced the implementation of single sales factor
apportionment
to this year; it was originally set to be fully implemented in
2008. That means some other
large corporations, possibly including Intel, will
join the ranks of $10 a year corporate
taxpayers sooner. As explained in
Corporate Tax Dodge, more businesses see their
taxes increase under single
sales factor than decrease, but because the decreases are
so significant,
overall the State loses tax revenue. One segment of the timber industry
apparently hurt by the move to single sales factor obtained an exemption and
will continue
to file taxes under the double-weighted sales factor apportionment
formula; Longview Fibre
is the primary advocate and beneficiary of this special
tax cut, first enacted in 2003 and
continued by the 2005 Legislature.
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Contributed by Mark Schwebke, President of AFT-OREGON
The
American
Federation of Teachers:
www.aft-oregon.org/
AFT ACTION LINK!
www.aflcio.org -
America's Union Movement
Portland
Community College Faculty Federation
Join
P C C F F !
KBOO 90.7 FM
LABOR RADIO
http://oregonaflcio.blogspot.com/
www.uoregon.edu/~lerc
Univ. of Oregon Labor Education & Research Center
AFSCME Councils and Locals - West
Portland Jobs With Justice
updates and information AFL-CIO
convention:
http://www.unionvoice.org/ct/b11dNdY14qbS/aflcio.
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